DCF Tool

CHCT

Community Healthcare Trust Inc – Other Financial Vehicles
Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in its target sub-markets throughout the United States. The Company had investments of approximately $735.4 millionin 141 real estate properties as of December 31, 2020, located in 33 states, totaling approximately 3.1 million square feet.
Analysis Results
Intrinsic Value $191.26
Latest Price $40.49
Relative Value 79% 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 29.1%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 5.9%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 29.1%, 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)
2022 81.1 76.6
2023 105 93.5
2024 135 114
2025 175 139
2026 226 170
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 5930 million. This corresponds to a present value of 4210 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 593 million. Adding in the terminal value gives a total present value of 4800 million.

There are presently 25.1 million outstanding shares, so the intrinsic value per share is 191.26.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 43,136,000
Current Cash 0
Current Liabilities 16,276,000
Current Debt 0
Non-Cash Working Capital (NCWC) 26,860,000
Change in NCWC 11,503,000
EBIT 32,907,000
Tax Provision 167,000
Depreciation and Amortization 30,401,000
Capital Expenditure -7,219,000
Unlevered Free Cash Flow 67,349,470
Current Assets 28,450,000
Current Cash 0
Current Liabilities 13,093,000
Current Debt 0
Non-Cash Working Capital (NCWC) 15,357,000
Change in NCWC -15,336,000
EBIT 27,924,000
Tax Provision 80,000
Depreciation and Amortization 25,378,000
Capital Expenditure -6,995,000
Unlevered Free Cash Flow 30,854,388
Current Assets 34,299,000
Current Cash 0
Current Liabilities 3,606,000
Current Debt 0
Non-Cash Working Capital (NCWC) 30,693,000
Change in NCWC 586,000
EBIT 18,670,000
Tax Provision 1,430,000
Depreciation and Amortization 22,225,000
Capital Expenditure -4,372,000
Unlevered Free Cash Flow 34,386,370
Current Assets 33,303,000
Current Cash 0
Current Liabilities 3,196,000
Current Debt 0
Non-Cash Working Capital (NCWC) 30,107,000
Change in NCWC 2,581,000
EBIT 13,440,000
Tax Provision -1,547,000
Depreciation and Amortization 20,168,000
Capital Expenditure -4,557,000
Unlevered Free Cash Flow 31,632,000
Current Assets 31,582,000
Current Cash 0
Current Liabilities 4,056,000
Current Debt 0
Non-Cash Working Capital (NCWC) 27,526,000
Change in NCWC 15,391,000
EBIT 7,387,000
Tax Provision 0
Depreciation and Amortization 18,153,000
Capital Expenditure -1,132,000
Unlevered Free Cash Flow 39,799,000
Current Assets 15,676,000
Current Cash 0
Current Liabilities 3,541,000
Current Debt 0
Non-Cash Working Capital (NCWC) 12,135,000
Change in NCWC -1,252,000
EBIT 3,869,000
Tax Provision 0
Depreciation and Amortization 13,383,000
Capital Expenditure -1,579,000
Unlevered Free Cash Flow 14,421,000

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