DCF Tool

QDEL

QuidelOrtho Corporation – Surgical and Medical Instrument Manufacturing
Analysis Results
Intrinsic Value $603.11
Latest Price $71.48
Relative Value 88% undervalued
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Cash Flow (Billions)
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 46.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.0%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 46.5%, 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)
2022 0.685 0.634
2023 1.0 0.86
2024 1.47 1.17
2025 2.15 1.58
2026 3.15 2.15
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 53.9 billion. This corresponds to a present value of 34.0 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 6.4 billion. Adding in the terminal value gives a total present value of 40.4 billion.

There are presently 67.0 million outstanding shares, so the intrinsic value per share is 603.11.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,440,310,000
Current Cash 828,509,000
Current Liabilities 323,520,000
Current Debt 0
Non-Cash Working Capital (NCWC) 288,281,000
Change in NCWC -27,219,000
EBIT 915,622,000
Tax Provision 196,133,000
Depreciation and Amortization 54,384,000
Capital Expenditure -292,724,000
Unlevered Free Cash Flow 450,605,128
Current Assets 1,142,402,000
Current Cash 489,941,000
Current Liabilities 336,961,000
Current Debt 0
Non-Cash Working Capital (NCWC) 315,500,000
Change in NCWC 259,278,000
EBIT 1,064,020,000
Tax Provision 230,032,000
Depreciation and Amortization 49,089,000
Capital Expenditure -64,927,000
Unlevered Free Cash Flow 1,072,187,310
Current Assets 222,227,000
Current Cash 52,775,000
Current Liabilities 125,891,000
Current Debt 12,661,000
Non-Cash Working Capital (NCWC) 56,222,000
Change in NCWC 11,876,000
EBIT 104,383,000
Tax Provision 4,257,000
Depreciation and Amortization 51,791,000
Capital Expenditure -27,229,000
Unlevered Free Cash Flow 135,063,421
Current Assets 193,397,000
Current Cash 43,695,000
Current Liabilities 159,735,000
Current Debt 54,379,000
Non-Cash Working Capital (NCWC) 44,346,000
Change in NCWC -142,633,000
EBIT 110,126,000
Tax Provision -10,799,000
Depreciation and Amortization 46,266,000
Capital Expenditure -31,689,000
Unlevered Free Cash Flow -17,930,000
Current Assets 331,229,000
Current Cash 36,086,000
Current Liabilities 128,348,000
Current Debt 20,184,000
Non-Cash Working Capital (NCWC) 186,979,000
Change in NCWC 164,607,000
EBIT 26,058,000
Tax Provision 129,000
Depreciation and Amortization 30,762,000
Capital Expenditure -17,510,000
Unlevered Free Cash Flow 203,917,000
Current Assets 225,394,000
Current Cash 169,508,000
Current Liabilities 33,612,000
Current Debt 98,000
Non-Cash Working Capital (NCWC) 22,372,000
Change in NCWC 3,424,000
EBIT -4,439,000
Tax Provision -2,391,000
Depreciation and Amortization 22,796,000
Capital Expenditure -11,909,000
Unlevered Free Cash Flow 9,872,000
Current Assets 240,664,000
Current Cash 191,471,000
Current Liabilities 30,830,000
Current Debt 585,000
Non-Cash Working Capital (NCWC) 18,948,000
Change in NCWC -19,402,000
EBIT 2,738,000
Tax Provision -3,218,000
Depreciation and Amortization 23,386,000
Capital Expenditure -17,032,000
Unlevered Free Cash Flow -10,310,000
Current Assets 275,121,000
Current Cash 200,895,000
Current Liabilities 36,385,000
Current Debt 509,000
Non-Cash Working Capital (NCWC) 38,350,000
Change in NCWC -8,313,000
EBIT -5,650,000
Tax Provision -3,909,000
Depreciation and Amortization 28,365,000
Capital Expenditure -11,241,000
Unlevered Free Cash Flow 3,161,000
Current Assets 78,619,000
Current Cash 8,388,000
Current Liabilities 24,009,000
Current Debt 441,000
Non-Cash Working Capital (NCWC) 46,663,000
Change in NCWC 9,528,000
EBIT 5,990,000
Tax Provision -3,956,000
Depreciation and Amortization 24,694,000
Capital Expenditure -22,501,000
Unlevered Free Cash Flow 17,711,000
Current Assets 74,772,000
Current Cash 14,856,000
Current Liabilities 23,161,000
Current Debt 380,000
Non-Cash Working Capital (NCWC) 37,135,000
Change in NCWC 24,840,000
EBIT 8,846,000
Tax Provision 2,618,000
Depreciation and Amortization 0
Capital Expenditure -12,221,000
Unlevered Free Cash Flow 18,422,189

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