DCF Tool


Addus HomeCare Corporation – Home Health Care Services
addus homecare corporation provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the united states. it operates in three segments: personal care, hospice, and home health. the personal care segment provides non-medical assistance with activities of daily living. this segment's services include assistance with bathing, grooming, oral care, feeding and dressing, medication reminders, meal planning and preparation, housekeeping, and transportation services. the hospice segment provides palliative nursing care, social work, spiritual counseling, homemaker, and bereavement counseling services for people who are terminally ill, as well as related services for their families. the home health segment offers skilled nursing and physical, occupational, and speech therapy for the individuals who requires assistance during an illness or after hospitalization. the company's payor clients include f
Analysis Results
Intrinsic Value $104.27
Latest Price $89.58
Relative Value 14% undervalued
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Cash Flow (Millions)
Analysis Parameters
New Ticker
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 7.1%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 4.3%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 7.1%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (million) Present value (million)
2023 47.3 45.4
2024 50.7 46.6
2025 54.3 47.9
2026 58.2 49.1
2027 62.4 50.5
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 1870 million. This corresponds to a present value of 1450 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 239 million. Adding in the terminal value gives a total present value of 1690 million.

There are presently 16.2 million outstanding shares, so the intrinsic value per share is 104.27.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 222,807,000
Current Cash 79,961,000
Current Liabilities 131,146,000
Current Debt 0
Non-Cash Working Capital (NCWC) 11,700,000
Change in NCWC -26,057,000
EBIT 68,737,000
Tax Provision 14,146,000
Depreciation and Amortization 14,060,000
Capital Expenditure -8,300,000
Unlevered Free Cash Flow 32,280,162
Current Assets 324,341,000
Current Cash 168,895,000
Current Liabilities 117,689,000
Current Debt 0
Non-Cash Working Capital (NCWC) 37,757,000
Change in NCWC 38,068,000
EBIT 65,936,000
Tax Provision 15,272,000
Depreciation and Amortization 14,494,000
Capital Expenditure -4,645,000
Unlevered Free Cash Flow 97,180,683
Current Assets 287,697,000
Current Cash 145,078,000
Current Liabilities 143,901,000
Current Debt 971,000
Non-Cash Working Capital (NCWC) -311,000
Change in NCWC -71,184,000
EBIT 44,507,000
Tax Provision 8,809,000
Depreciation and Amortization 12,051,000
Capital Expenditure -6,831,000
Unlevered Free Cash Flow -30,804,722
Current Assets 269,387,000
Current Cash 111,714,000
Current Liabilities 87,528,000
Current Debt 728,000
Non-Cash Working Capital (NCWC) 70,873,000
Change in NCWC 17,217,000
EBIT 34,752,000
Tax Provision 7,359,000
Depreciation and Amortization 10,574,000
Capital Expenditure -4,621,000
Unlevered Free Cash Flow 50,212,022
Current Assets 185,504,000
Current Cash 70,406,000
Current Liabilities 61,504,000
Current Debt 62,000
Non-Cash Working Capital (NCWC) 53,656,000
Change in NCWC 5,396,000
EBIT 24,337,000
Tax Provision 4,498,000
Depreciation and Amortization 8,642,000
Capital Expenditure -5,349,000
Unlevered Free Cash Flow 28,021,756
Current Assets 151,085,000
Current Cash 53,754,000
Current Liabilities 52,170,000
Current Debt 3,099,000
Non-Cash Working Capital (NCWC) 48,260,000
Change in NCWC -27,648,000
EBIT 23,772,000
Tax Provision 8,589,000
Depreciation and Amortization 6,663,000
Capital Expenditure -3,616,000
Unlevered Free Cash Flow -10,088,760
Current Assets 131,010,000
Current Cash 8,013,000
Current Liabilities 49,620,000
Current Debt 2,531,000
Non-Cash Working Capital (NCWC) 75,908,000
Change in NCWC 18,531,000
EBIT 15,235,000
Tax Provision 3,994,000
Depreciation and Amortization 6,647,000
Capital Expenditure -1,712,000
Unlevered Free Cash Flow 34,879,092
Current Assets 102,561,000
Current Cash 4,104,000
Current Liabilities 42,189,000
Current Debt 1,109,000
Non-Cash Working Capital (NCWC) 57,377,000
Change in NCWC 15,587,000
EBIT 16,154,000
Tax Provision 3,932,000
Depreciation and Amortization 4,717,000
Capital Expenditure -2,359,000
Unlevered Free Cash Flow 29,943,453
Current Assets 97,372,000
Current Cash 13,363,000
Current Liabilities 43,205,000
Current Debt 986,000
Non-Cash Working Capital (NCWC) 41,790,000
Change in NCWC 12,512,000
EBIT 18,071,000
Tax Provision 5,428,000
Depreciation and Amortization 3,830,000
Capital Expenditure -6,411,000
Unlevered Free Cash Flow 22,361,761
Current Assets 91,480,000
Current Cash 15,565,000
Current Liabilities 46,637,000
Current Debt 0
Non-Cash Working Capital (NCWC) 29,278,000
Change in NCWC -17,839,000
EBIT 15,461,000
Tax Provision 3,812,000
Depreciation and Amortization 2,160,000
Capital Expenditure -887,000
Unlevered Free Cash Flow -5,040,714
Current Assets 87,836,000
Current Cash 1,737,000
Current Liabilities 39,190,000
Current Debt 208,000
Non-Cash Working Capital (NCWC) 47,117,000
Change in NCWC -3,000,000
EBIT 15,168,000
Tax Provision 4,807,000
Depreciation and Amortization 2,544,000
Capital Expenditure -1,114,000
Unlevered Free Cash Flow 8,425,060

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