DCF Tool


Community Health Systems, Inc. – General Medical and Surgical Hospitals
community health systems, inc. is one of the nation’s leading operators of general acute care hospitals. the organization’s affiliates own, operate or lease 200 hospitals in 29 states with approximately 30,400 licensed beds. affiliated hospitals are dedicated to providing quality healthcare for local residents and contribute to the economic development of their communities. based on the unique needs of each community served, these hospitals offer a wide range of diagnostic, medical and surgical services in inpatient and outpatient settings.
Analysis Results
Intrinsic Value $167.24
Latest Price $2.73
Relative Value 98% undervalued
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Cash Flow (Billions)
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 -3.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 3.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -3.5%, 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 (billion) Present value (billion)
2023 0.915 0.881
2024 0.883 0.819
2025 0.852 0.762
2026 0.823 0.709
2027 0.794 0.659
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 23.8 billion. This corresponds to a present value of 19.0 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 3.83 billion. Adding in the terminal value gives a total present value of 22.9 billion.

There are presently 137.0 million outstanding shares, so the intrinsic value per share is 167.24.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 3,082,000,000
Current Cash 118,000,000
Current Liabilities 2,186,000,000
Current Debt 21,000,000
Non-Cash Working Capital (NCWC) 799,000,000
Change in NCWC 160,000,000
EBIT 733,000,000
Tax Provision 170,000,000
Depreciation and Amortization 534,000,000
Capital Expenditure -415,000,000
Unlevered Free Cash Flow 654,951,289
Current Assets 3,479,000,000
Current Cash 507,000,000
Current Liabilities 2,364,000,000
Current Debt 31,000,000
Non-Cash Working Capital (NCWC) 639,000,000
Change in NCWC 497,000,000
EBIT 1,300,000,000
Tax Provision 131,000,000
Depreciation and Amortization 540,000,000
Capital Expenditure -469,000,000
Unlevered Free Cash Flow 1,526,717,434
Current Assets 4,510,000,000
Current Cash 1,676,000,000
Current Liabilities 2,815,000,000
Current Debt 123,000,000
Non-Cash Working Capital (NCWC) 142,000,000
Change in NCWC -807,000,000
EBIT 583,000,000
Tax Provision -185,000,000
Depreciation and Amortization 558,000,000
Capital Expenditure -440,000,000
Unlevered Free Cash Flow -106,000,000
Current Assets 3,427,000,000
Current Cash 216,000,000
Current Liabilities 2,282,000,000
Current Debt 20,000,000
Non-Cash Working Capital (NCWC) 949,000,000
Change in NCWC -216,000,000
EBIT 896,000,000
Tax Provision 160,000,000
Depreciation and Amortization 608,000,000
Capital Expenditure -438,000,000
Unlevered Free Cash Flow 850,000,000
Current Assets 3,549,000,000
Current Cash 196,000,000
Current Liabilities 2,392,000,000
Current Debt 204,000,000
Non-Cash Working Capital (NCWC) 1,165,000,000
Change in NCWC -17,000,000
EBIT 909,000,000
Tax Provision -11,000,000
Depreciation and Amortization 700,000,000
Capital Expenditure -527,000,000
Unlevered Free Cash Flow 1,065,000,000
Current Assets 4,068,000,000
Current Cash 563,000,000
Current Liabilities 2,356,000,000
Current Debt 33,000,000
Non-Cash Working Capital (NCWC) 1,182,000,000
Change in NCWC -814,000,000
EBIT 230,000,000
Tax Provision -449,000,000
Depreciation and Amortization 861,000,000
Capital Expenditure -564,000,000
Unlevered Free Cash Flow -287,000,000
Current Assets 4,666,000,000
Current Cash 238,000,000
Current Liabilities 2,887,000,000
Current Debt 455,000,000
Non-Cash Working Capital (NCWC) 1,996,000,000
Change in NCWC -143,000,000
EBIT 1,118,000,000
Tax Provision -104,000,000
Depreciation and Amortization 1,100,000,000
Capital Expenditure -744,000,000
Unlevered Free Cash Flow 1,331,000,000
Current Assets 5,166,000,000
Current Cash 184,000,000
Current Liabilities 3,072,000,000
Current Debt 229,000,000
Non-Cash Working Capital (NCWC) 2,139,000,000
Change in NCWC 436,000,000
EBIT 1,472,000,000
Tax Provision 116,000,000
Depreciation and Amortization 1,174,000,000
Capital Expenditure -953,000,000
Unlevered Free Cash Flow 1,713,545,012
Current Assets 5,566,000,000
Current Cash 509,000,000
Current Liabilities 3,589,000,000
Current Debt 235,000,000
Non-Cash Working Capital (NCWC) 1,703,000,000
Change in NCWC 619,021,000
EBIT 1,604,000,000
Tax Provision 82,000,000
Depreciation and Amortization 1,187,000,000
Capital Expenditure -853,000,000
Unlevered Free Cash Flow 2,172,436,204
Current Assets 3,747,963,000
Current Cash 373,403,000
Current Liabilities 2,457,483,000
Current Debt 166,902,000
Non-Cash Working Capital (NCWC) 1,083,979,000
Change in NCWC 105,959,000
EBIT 1,043,904,000
Tax Provision 88,594,000
Depreciation and Amortization 782,675,000
Capital Expenditure -613,992,000
Unlevered Free Cash Flow 1,016,175,548
Current Assets 3,419,142,000
Current Cash 387,813,000
Current Liabilities 2,143,220,000
Current Debt 89,911,000
Non-Cash Working Capital (NCWC) 978,020,000
Change in NCWC 109,229,000
EBIT 1,252,157,000
Tax Provision 157,502,000
Depreciation and Amortization 725,558,000
Capital Expenditure -768,790,000
Unlevered Free Cash Flow 926,672,092

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