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Major Indexes

Discounted Cash Flow (DCF) Analysis Levered


Intuitive Surgical Inc.

Intuitive Surgical Inc. (ISRG)

$585.34
14.05 (+2.46%)

Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 2,265.102,131.692,384.292,704.263,128.833,724.253,754.414,097.944,472.904,882.185,328.89
Revenue (%)
Operating Cash Flow 879.99665.09771.791,043.031,143.901,169.411,598.251,472.391,607.111,754.171,914.67
Operating Cash Flow (%)
Capital Expenditure 104.65105.5281.0753.81190.55187.33425.75219.24239.30261.20285.10
Capital Expenditure (%)
Free Cash Flow 984.64770.60852.861,096.851,334.451,356.742,024.001,691.631,846.422,015.362,199.77

Weighted Average Cost Of Capital

Weighted Average Cost Of Capital

Share price $ 585.34
Diluted Shares Outstanding 119.50
Cost of Debt
Tax Rate 8.18
After-tax Cost of Debt -0.36
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.49
Total Debt -
Total Equity 69,948.13
Total Capital 69,948.13
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 2,265.102,131.692,384.292,704.263,128.833,724.253,754.414,097.944,472.904,882.185,328.89
Operating Cash Flow 879.99665.09771.791,043.031,143.901,169.411,598.251,472.391,607.111,754.171,914.67
Capital Expenditure 104.65105.5281.0753.81190.55187.33425.75219.24239.30261.20285.10
Free Cash Flow 984.64770.60852.861,096.851,334.451,356.742,024.001,691.631,846.422,015.362,199.77
WACC
PV LFCF 1,360.921,332.361,304.401,277.02
SUM PV LFCF 8,001.37

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 11.49
Free cash flow (t + 1) 1,556.75
Terminal Value 20,784.41
Present Value of Terminal Value 12,065.86

Intrinsic Value

Enterprise Value 17,556.44
Net Debt -3,221.66
Equity Value 20,778.11
Shares Outstanding 119.50
Equity Value Per Share 242.30