DCF Tool

AMED

Amedisys Inc. – Home Health Care Services
Amedisys, Inc. is a leading healthcare at home Company delivering personalized home health, hospice and personal care. Amedisys is focused on delivering the care that is best for its patients, whether that is home-based personal care; recovery and rehabilitation after an operation or injury; care focused on empowering them to manage a chronic disease; or hospice care at the end of life. More than 2,900 hospitals and 78,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With ~21,000 employees, in 514 care centers in 39 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 418,000 patients in need every year.
Analysis Results
Intrinsic Value $511.32
Latest Price $121.23
Relative Value 76% undervalued
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Cash Flow (Billions)
Analysis Parameters
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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 36.8%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 36.8%, 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 (billion) Present value (billion)
2022 0.422 0.388
2023 0.577 0.487
2024 0.789 0.613
2025 1.08 0.771
2026 1.48 0.969
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 22.2 billion. This corresponds to a present value of 13.4 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 3.23 billion. Adding in the terminal value gives a total present value of 16.6 billion.

There are presently 32.4 million outstanding shares, so the intrinsic value per share is 511.32.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 356,684,000
Current Cash 42,694,000
Current Liabilities 374,282,000
Current Debt 12,995,000
Non-Cash Working Capital (NCWC) -47,297,000
Change in NCWC 118,368,000
EBIT 243,564,000
Tax Provision 70,065,000
Depreciation and Amortization 30,901,000
Capital Expenditure -6,302,000
Unlevered Free Cash Flow 325,633,698
Current Assets 361,984,000
Current Cash 81,808,000
Current Liabilities 456,337,000
Current Debt 10,496,000
Non-Cash Working Capital (NCWC) -165,665,000
Change in NCWC -168,909,000
EBIT 193,014,000
Tax Provision 25,635,000
Depreciation and Amortization 28,802,000
Capital Expenditure -5,332,000
Unlevered Free Cash Flow 24,105,038
Current Assets 350,554,000
Current Cash 30,294,000
Current Liabilities 326,943,000
Current Debt 9,927,000
Non-Cash Working Capital (NCWC) 3,244,000
Change in NCWC 20,219,000
EBIT 184,280,000
Tax Provision 42,503,000
Depreciation and Amortization 18,428,000
Capital Expenditure -7,888,000
Unlevered Free Cash Flow 169,076,598
Current Assets 224,118,000
Current Cash 20,229,000
Current Liabilities 222,476,000
Current Debt 1,612,000
Non-Cash Working Capital (NCWC) -16,975,000
Change in NCWC -37,344,000
EBIT 162,840,000
Tax Provision 38,859,000
Depreciation and Amortization 13,261,000
Capital Expenditure -6,558,000
Unlevered Free Cash Flow 92,398,514
Current Assets 311,156,000
Current Cash 86,363,000
Current Liabilities 215,062,000
Current Debt 10,638,000
Non-Cash Working Capital (NCWC) 20,369,000
Change in NCWC 11,784,000
EBIT 111,940,000
Tax Provision 50,118,000
Depreciation and Amortization 17,123,000
Capital Expenditure -10,707,000
Unlevered Free Cash Flow 60,707,580
Current Assets 214,910,000
Current Cash 30,197,000
Current Liabilities 181,348,000
Current Debt 5,220,000
Non-Cash Working Capital (NCWC) 8,585,000
Change in NCWC 31,017,000
EBIT 67,360,000
Tax Provision 23,935,000
Depreciation and Amortization 19,678,000
Capital Expenditure -15,717,000
Unlevered Free Cash Flow 76,150,467
Current Assets 175,263,000
Current Cash 27,502,000
Current Liabilities 175,193,000
Current Debt 5,000,000
Non-Cash Working Capital (NCWC) -22,432,000
Change in NCWC 365,000
EBIT 77,925,000
Tax Provision 2,004,000
Depreciation and Amortization 20,036,000
Capital Expenditure -21,429,000
Unlevered Free Cash Flow 76,897,000
Current Assets 135,558,000
Current Cash 8,032,000
Current Liabilities 162,323,000
Current Debt 12,000,000
Non-Cash Working Capital (NCWC) -22,797,000
Change in NCWC 87,739,000
EBIT 30,145,000
Tax Provision 7,671,000
Depreciation and Amortization 28,347,000
Capital Expenditure -12,008,000
Unlevered Free Cash Flow 123,198,863
Current Assets 205,279,000
Current Cash 17,303,000
Current Liabilities 312,416,000
Current Debt 13,904,000
Non-Cash Working Capital (NCWC) -110,536,000
Change in NCWC -132,799,000
EBIT 6,041,000
Tax Provision -58,773,000
Depreciation and Amortization 37,383,000
Capital Expenditure -41,736,000
Unlevered Free Cash Flow -131,111,000
Current Assets 205,788,000
Current Cash 14,545,000
Current Liabilities 204,787,000
Current Debt 35,807,000
Non-Cash Working Capital (NCWC) 22,263,000
Change in NCWC 26,097,000
EBIT 51,593,000
Tax Provision -21,397,000
Depreciation and Amortization 40,059,000
Capital Expenditure -48,262,000
Unlevered Free Cash Flow 69,487,000

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