DCF Tool

MYGN

Myriad Genetics, Inc. – Pharmaceutical Preparation Manufacturing
Myriad Genetics Inc., is a leading genetic testing and precision medicine company dedicated to transforming patient lives worldwide. Myriad discovers and commercializes genetic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs.
Analysis Results
Intrinsic Value $8.39
Latest Price $27.45
Relative Value 227% overvalued
Thoughts on this result? Let us know.
Ad
Cash Flow (Millions)
Analysis Parameters
%
%
%
New Ticker
Ad
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 -5.0%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 11.2%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -5.0%, 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 83.4 74.9
2023 79.2 64.0
2024 75.3 54.7
2025 71.6 46.7
2026 68.0 39.9
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 751 million. This corresponds to a present value of 396 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 280 million. Adding in the terminal value gives a total present value of 677 million.

There are presently 80.6 million outstanding shares, so the intrinsic value per share is 8.39.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 484,800,000
Current Cash 339,800,000
Current Liabilities 204,300,000
Current Debt 0
Non-Cash Working Capital (NCWC) -59,300,000
Change in NCWC -26,200,000
EBIT -126,700,000
Tax Provision -29,900,000
Depreciation and Amortization 62,800,000
Capital Expenditure -18,000,000
Unlevered Free Cash Flow -108,100,000
Current Assets 331,700,000
Current Cash 217,800,000
Current Liabilities 147,000,000
Current Debt 0
Non-Cash Working Capital (NCWC) -33,100,000
Change in NCWC -127,000,000
EBIT -134,800,000
Tax Provision -23,700,000
Depreciation and Amortization 72,000,000
Capital Expenditure -10,200,000
Unlevered Free Cash Flow -200,000,000
Current Assets 348,600,000
Current Cash 136,900,000
Current Liabilities 117,800,000
Current Debt 0
Non-Cash Working Capital (NCWC) 93,900,000
Change in NCWC 50,300,000
EBIT 8,700,000
Tax Provision -4,400,000
Depreciation and Amortization 73,000,000
Capital Expenditure -8,600,000
Unlevered Free Cash Flow 123,400,000
Current Assets 326,400,000
Current Cash 180,600,000
Current Liabilities 102,200,000
Current Debt 0
Non-Cash Working Capital (NCWC) 43,600,000
Change in NCWC -32,600,000
EBIT 57,500,000
Tax Provision -14,000,000
Depreciation and Amortization 54,400,000
Capital Expenditure -8,400,000
Unlevered Free Cash Flow 70,900,000
Current Assets 317,100,000
Current Cash 150,700,000
Current Liabilities 217,500,000
Current Debt 127,300,000
Non-Cash Working Capital (NCWC) 76,200,000
Change in NCWC -7,000,000
EBIT 49,400,000
Tax Provision 21,300,000
Depreciation and Amortization 48,300,000
Capital Expenditure -6,100,000
Unlevered Free Cash Flow 60,072,727
Current Assets 314,500,000
Current Cash 159,000,000
Current Liabilities 72,300,000
Current Debt 0
Non-Cash Working Capital (NCWC) 83,200,000
Change in NCWC 13,100,000
EBIT 166,800,000
Tax Provision 43,600,000
Depreciation and Amortization 26,700,000
Capital Expenditure -5,000,000
Unlevered Free Cash Flow 158,542,095
Current Assets 283,600,000
Current Cash 144,800,000
Current Liabilities 68,700,000
Current Debt 0
Non-Cash Working Capital (NCWC) 70,100,000
Change in NCWC 14,717,000
EBIT 134,200,000
Tax Provision 54,700,000
Depreciation and Amortization 25,000,000
Capital Expenditure -23,900,000
Unlevered Free Cash Flow 95,600,839
Current Assets 322,423,000
Current Cash 186,462,000
Current Liabilities 80,578,000
Current Debt 0
Non-Cash Working Capital (NCWC) 55,383,000
Change in NCWC 8,216,000
EBIT 274,442,000
Tax Provision 101,640,000
Depreciation and Amortization 13,819,000
Capital Expenditure -14,271,000
Unlevered Free Cash Flow 181,818,096
Current Assets 483,992,000
Current Cash 372,316,000
Current Liabilities 64,509,000
Current Debt 0
Non-Cash Working Capital (NCWC) 47,167,000
Change in NCWC 10,174,000
EBIT 228,002,000
Tax Provision 86,137,000
Depreciation and Amortization 8,889,000
Capital Expenditure -11,373,000
Unlevered Free Cash Flow 151,502,420
Current Assets 422,492,000
Current Cash 340,532,000
Current Liabilities 44,967,000
Current Debt 0
Non-Cash Working Capital (NCWC) 36,993,000
Change in NCWC -424,000
EBIT 180,318,000
Tax Provision 72,389,000
Depreciation and Amortization 9,069,000
Capital Expenditure -10,258,000
Unlevered Free Cash Flow 107,972,152

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.