DCF Tool

SSNC

SS&C Technologies Holdings Inc – Software Publishers
SS&C is a global provider of services and software for the Unancial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has o ces around the world. Some 18,000 Enancial services and healthcare organizations, from the world's largest companies to small and mid-market rms, rely on SS&C for expertise, scale, and technology.
Analysis Results
Intrinsic Value $342.08
Latest Price $53.49
Relative Value 84% 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 27.0%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.1%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 27.0%, 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 (billion) Present value (billion)
2022 2.09 1.96
2023 2.66 2.32
2024 3.38 2.75
2025 4.29 3.26
2026 5.45 3.87
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 109 billion. This corresponds to a present value of 72.0 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 14.2 billion. Adding in the terminal value gives a total present value of 86.2 billion.

There are presently 252.0 million outstanding shares, so the intrinsic value per share is 342.08.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 4,252,200,000
Current Cash 564,000,000
Current Liabilities 3,851,100,000
Current Debt 47,400,000
Non-Cash Working Capital (NCWC) -115,500,000
Change in NCWC 24,700,000
EBIT 1,267,700,000
Tax Provision 236,400,000
Depreciation and Amortization 667,400,000
Capital Expenditure -136,600,000
Unlevered Free Cash Flow 1,534,208,408
Current Assets 2,298,500,000
Current Cash 209,300,000
Current Liabilities 2,283,300,000
Current Debt 53,900,000
Non-Cash Working Capital (NCWC) -140,200,000
Change in NCWC -73,400,000
EBIT 984,300,000
Tax Provision 150,600,000
Depreciation and Amortization 725,300,000
Capital Expenditure -106,400,000
Unlevered Free Cash Flow 1,338,725,522
Current Assets 2,785,900,000
Current Cash 152,800,000
Current Liabilities 2,776,200,000
Current Debt 76,300,000
Non-Cash Working Capital (NCWC) -66,800,000
Change in NCWC -113,900,000
EBIT 918,000,000
Tax Provision 93,200,000
Depreciation and Amortization 775,200,000
Capital Expenditure -130,400,000
Unlevered Free Cash Flow 1,287,986,703
Current Assets 2,048,100,000
Current Cash 166,700,000
Current Liabilities 1,921,800,000
Current Debt 87,500,000
Non-Cash Working Capital (NCWC) 47,100,000
Change in NCWC 157,497,000
EBIT 431,200,000
Tax Provision 21,900,000
Depreciation and Amortization 518,500,000
Capital Expenditure -89,100,000
Unlevered Free Cash Flow 942,611,148
Current Assets 359,457,000
Current Cash 64,057,000
Current Liabilities 443,660,000
Current Debt 37,863,000
Non-Cash Working Capital (NCWC) -110,397,000
Change in NCWC 26,530,000
EBIT 396,913,000
Tax Provision -46,234,000
Depreciation and Amortization 237,189,000
Capital Expenditure -45,974,000
Unlevered Free Cash Flow 614,658,000
Current Assets 415,112,000
Current Cash 117,558,000
Current Liabilities 560,625,000
Current Debt 126,144,000
Non-Cash Working Capital (NCWC) -136,927,000
Change in NCWC 6,603,000
EBIT 288,695,000
Tax Provision 32,620,000
Depreciation and Amortization 228,683,000
Capital Expenditure -37,547,000
Unlevered Free Cash Flow 428,877,092
Current Assets 675,066,000
Current Cash 434,159,000
Current Liabilities 416,718,000
Current Debt 32,281,000
Non-Cash Working Capital (NCWC) -143,530,000
Change in NCWC -98,000,000
EBIT 164,738,000
Tax Provision 17,980,000
Depreciation and Amortization 150,834,000
Capital Expenditure -17,873,000
Unlevered Free Cash Flow 151,015,701
Current Assets 235,172,000
Current Cash 109,577,000
Current Liabilities 191,595,000
Current Debt 20,470,000
Non-Cash Working Capital (NCWC) -45,530,000
Change in NCWC -38,446,000
EBIT 200,372,000
Tax Provision 46,527,000
Depreciation and Amortization 99,831,000
Capital Expenditure -18,557,000
Unlevered Free Cash Flow 190,723,230
Current Assets 221,176,000
Current Cash 84,470,000
Current Liabilities 167,002,000
Current Debt 23,212,000
Non-Cash Working Capital (NCWC) -7,084,000
Change in NCWC 10,163,000
EBIT 182,968,000
Tax Provision 27,292,000
Depreciation and Amortization 99,780,000
Capital Expenditure -14,320,000
Unlevered Free Cash Flow 244,196,993
Current Assets 206,917,000
Current Cash 86,160,000
Current Liabilities 160,252,000
Current Debt 22,248,000
Non-Cash Working Capital (NCWC) -17,247,000
Change in NCWC 12,000,000
EBIT 137,491,000
Tax Provision 24,665,000
Depreciation and Amortization 75,814,000
Capital Expenditure -18,292,000
Unlevered Free Cash Flow 158,900,415

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