DCF Tool

AMN

AMN Healthcare Services Inc. – Dental Laboratories
AMN Healthcare is the leader and innovator in total talent solutions for healthcare organizations across the nation. The Company provides access to the most comprehensive network of quality healthcare professionals through its innovative recruitment strategies and breadth of career opportunities. With insights and expertise, AMN Healthcare helps providers optimize their workforce to successfully reduce complexity, increase efficiency and improve patient outcomes. AMN total talent solutions include managed services programs, clinical and interim healthcare leaders, temporary staffing, executive search solutions, vendor management systems, recruitment process outsourcing, predictive modeling, language interpretation services, revenue cycle solutions, credentialing and other services. Clients include acute-care hospitals, community health centers and clinics, physician practice groups, retail and urgent care centers, home health facilities, schools and many other healthcare settings. AMN Healthcare is committed to fostering and maintaining a diverse team that reflects the communities we serve. Our commitment to the inclusion of many different backgrounds, experiences and perspectives enables our innovation and leadership in the healthcare services industry.
Analysis Results
Intrinsic Value $203.77
Latest Price $116.27
Relative Value 43% undervalued
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Cash Flow (Millions)
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 17.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 6.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 17.5%, 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)
2022 266 249
2023 313 274
2024 367 302
2025 431 332
2026 507 365
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 10800 million. This corresponds to a present value of 7310 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1520 million. Adding in the terminal value gives a total present value of 8830 million.

There are presently 43.3 million outstanding shares, so the intrinsic value per share is 203.77.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,349,068,000
Current Cash 180,928,000
Current Liabilities 969,390,000
Current Debt 0
Non-Cash Working Capital (NCWC) 198,750,000
Change in NCWC 112,497,000
EBIT 477,998,000
Tax Provision 116,533,000
Depreciation and Amortization 103,697,000
Capital Expenditure -53,573,000
Unlevered Free Cash Flow 515,140,500
Current Assets 533,735,000
Current Cash 29,213,000
Current Liabilities 422,957,000
Current Debt 4,688,000
Non-Cash Working Capital (NCWC) 86,253,000
Change in NCWC -13,156,000
EBIT 149,265,000
Tax Provision 20,858,000
Depreciation and Amortization 94,187,000
Capital Expenditure -37,702,000
Unlevered Free Cash Flow 158,576,656
Current Assets 560,499,000
Current Cash 82,985,000
Current Liabilities 378,105,000
Current Debt 0
Non-Cash Working Capital (NCWC) 99,409,000
Change in NCWC -61,631,000
EBIT 176,915,000
Tax Provision 34,500,000
Depreciation and Amortization 58,520,000
Capital Expenditure -35,218,000
Unlevered Free Cash Flow 97,481,213
Current Assets 482,166,000
Current Cash 13,856,000
Current Liabilities 307,270,000
Current Debt 0
Non-Cash Working Capital (NCWC) 161,040,000
Change in NCWC -32,694,000
EBIT 202,828,000
Tax Provision 44,944,000
Depreciation and Amortization 41,237,000
Capital Expenditure -35,206,000
Unlevered Free Cash Flow 127,334,608
Current Assets 474,153,000
Current Cash 15,147,000
Current Liabilities 265,272,000
Current Debt 0
Non-Cash Working Capital (NCWC) 193,734,000
Change in NCWC 24,768,000
EBIT 212,440,000
Tax Provision 60,205,000
Depreciation and Amortization 32,279,000
Capital Expenditure -26,529,000
Unlevered Free Cash Flow 176,607,350
Current Assets 450,628,000
Current Cash 10,622,000
Current Liabilities 274,790,000
Current Debt 3,750,000
Non-Cash Working Capital (NCWC) 168,966,000
Change in NCWC 16,307,000
EBIT 191,632,000
Tax Provision 70,329,000
Depreciation and Amortization 29,620,000
Capital Expenditure -21,956,000
Unlevered Free Cash Flow 139,100,096
Current Assets 375,628,000
Current Cash 9,576,000
Current Liabilities 251,017,000
Current Debt 37,624,000
Non-Cash Working Capital (NCWC) 152,659,000
Change in NCWC 29,519,000
EBIT 128,879,000
Tax Provision 39,198,000
Depreciation and Amortization 20,953,000
Capital Expenditure -27,010,000
Unlevered Free Cash Flow 110,621,281
Current Assets 282,670,000
Current Cash 13,073,000
Current Liabilities 178,295,000
Current Debt 31,838,000
Non-Cash Working Capital (NCWC) 123,140,000
Change in NCWC 38,679,000
EBIT 67,903,000
Tax Provision 25,449,000
Depreciation and Amortization 15,993,000
Capital Expenditure -19,134,000
Unlevered Free Cash Flow 73,985,038
Current Assets 230,099,000
Current Cash 15,580,000
Current Liabilities 140,292,000
Current Debt 10,234,000
Non-Cash Working Capital (NCWC) 84,461,000
Change in NCWC -4,077,000
EBIT 65,502,000
Tax Provision 22,904,000
Depreciation and Amortization 13,545,000
Capital Expenditure -9,047,000
Unlevered Free Cash Flow 39,054,475
Current Assets 203,744,000
Current Cash 5,681,000
Current Liabilities 109,525,000
Current Debt 0
Non-Cash Working Capital (NCWC) 88,538,000
Change in NCWC -14,561,000
EBIT 53,342,000
Tax Provision 11,010,000
Depreciation and Amortization 14,151,000
Capital Expenditure -5,472,000
Unlevered Free Cash Flow 25,965,456

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