DCF Tool


Healthequity Inc – All Other Information Services
healthequity is the nation’s oldest and largest dedicated health savings trustee. we help individuals and families build health savings, while empowering employers to spend less on benefits through innovative, integrated health care account administration and investment platforms, all backed by 24/7/365 service, personalized savings strategies and consumer education. healthequity partners–more than 14,000 employers and 60 national health plans–spend less on benefits and get more by leveraging healthequity’s acclaimed service and education. healthequity is an irs-approved nonbank hsa trustee. as of september 30, 2010, healthequity manages more than $640 million in health savings assets. and all healthequity-managed cash deposits are fdic-insured to the greatest extent allowed by law. founded by dr. stephen neeleman, a practicing trauma surgeon and author of the complete hsa guidebook, healthequity is based in salt lake city and has members and sales representatives nationwide. v
Analysis Results
Intrinsic Value $45.89
Latest Price $82.38
Relative Value 79% overvalued
Thoughts on this result? Let us know.
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 16.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.2%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 16.4%, 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)
2024 135 126
2025 157 136
2026 182 148
2027 212 161
2028 247 174
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 4840 million. This corresponds to a present value of 3190 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 745 million. Adding in the terminal value gives a total present value of 3940 million.

There are presently 85.8 million outstanding shares, so the intrinsic value per share is 45.89.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 382,893,000
Current Cash 254,266,000
Current Liabilities 131,061,000
Current Debt 17,500,000
Non-Cash Working Capital (NCWC) 15,066,000
Change in NCWC 33,580,000
EBIT 37,653,000
Tax Provision -11,953,000
Depreciation and Amortization 161,201,000
Capital Expenditure -119,127,000
Unlevered Free Cash Flow 113,307,000
Current Assets 351,337,000
Current Cash 225,414,000
Current Liabilities 153,187,000
Current Debt 8,750,000
Non-Cash Working Capital (NCWC) -18,514,000
Change in NCWC -7,687,000
EBIT 40,567,000
Tax Provision -22,452,000
Depreciation and Amortization 137,188,000
Capital Expenditure -137,081,000
Unlevered Free Cash Flow 32,987,000
Current Assets 460,177,000
Current Cash 328,803,000
Current Liabilities 204,701,000
Current Debt 62,500,000
Non-Cash Working Capital (NCWC) -10,827,000
Change in NCWC -3,527,000
EBIT 80,004,000
Tax Provision -4,694,000
Depreciation and Amortization 115,904,000
Capital Expenditure -96,964,000
Unlevered Free Cash Flow 95,417,000
Current Assets 297,300,000
Current Cash 191,726,000
Current Liabilities 151,937,000
Current Debt 39,063,000
Non-Cash Working Capital (NCWC) -7,300,000
Change in NCWC -11,449,000
EBIT 109,117,000
Tax Provision 3,491,000
Depreciation and Amortization 55,352,000
Capital Expenditure -42,074,000
Unlevered Free Cash Flow 102,119,040
Current Assets 394,677,000
Current Cash 361,475,000
Current Liabilities 29,053,000
Current Debt 0
Non-Cash Working Capital (NCWC) 4,149,000
Change in NCWC -488,000
EBIT 77,670,000
Tax Provision 1,919,000
Depreciation and Amortization 18,185,000
Capital Expenditure -15,042,000
Unlevered Free Cash Flow 78,359,124
Current Assets 265,396,000
Current Cash 240,269,000
Current Liabilities 20,490,000
Current Debt 0
Non-Cash Working Capital (NCWC) 4,637,000
Change in NCWC -120,000
EBIT 54,418,000
Tax Provision 4,827,000
Depreciation and Amortization 15,952,000
Capital Expenditure -33,383,000
Unlevered Free Cash Flow 31,833,838
Current Assets 200,819,000
Current Cash 180,359,000
Current Liabilities 15,703,000
Current Debt 0
Non-Cash Working Capital (NCWC) 4,757,000
Change in NCWC -2,410,000
EBIT 41,212,000
Tax Provision 13,744,000
Depreciation and Amortization 13,186,000
Capital Expenditure -12,675,000
Unlevered Free Cash Flow 25,194,911
Current Assets 143,048,000
Current Cash 123,775,000
Current Liabilities 12,106,000
Current Debt 0
Non-Cash Working Capital (NCWC) 7,167,000
Change in NCWC 2,284,000
EBIT 26,143,000
Tax Provision 8,941,000
Depreciation and Amortization 8,601,000
Capital Expenditure -49,761,000
Unlevered Free Cash Flow -21,880,083

This analysis is provided for informational purposes only and does not constitute financial or investing advice. For more information on the advantages and limitations of DCF analysis see background. This information is provided on an "as is" basis. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. By using this site you agree that under no circumstances shall Valuation Tools LLC be held liable for any loss or damage caused by information obtained from this website including any articles, data, videos, its social media accounts, or any other materials.