Discounted Cash Flow

Labcorp Holdings Inc.

LH · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $9.4b $732.1m $897.0m 7.8% $7.14
2017 $10.2b (8.1%) $1.3b (73.2%) $1.1b (27.8%) 12.4% (60.2%) $12.39 (73.5%)
2018 $11.3b (11.0%) $883.7m (-30.3%) $925.6m (-19.3%) 7.8% (-37.3%) $8.71 (-29.7%)
2019 $11.6b (2.0%) $823.8m (-6.8%) $1.0b (12.8%) 7.1% (-8.6%) $8.42 (-3.3%)
2020 $14.0b (21.0%) $1.6b (88.9%) $1.8b (67.9%) 11.1% (56.1%) $15.99 (89.9%)
2021 $16.1b (15.3%) $2.4b (52.8%) $2.6b (51.1%) 14.7% (32.5%) $24.60 (53.8%)
2022 $11.9b (-26.4%) $1.3b (-46.2%) $1.5b (-42.4%) 10.8% (-26.9%) $14.05 (-42.9%)
2023 $12.2b (2.5%) $418.0m (-67.3%) $874.1m (-42.7%) 3.4% (-68.1%) $4.80 (-65.8%)
2024 $13.0b (7.0%) $746.0m (78.5%) $1.1b (25.4%) 5.7% (66.8%) $8.89 (85.2%)
2025 $14.0b (7.2%) $876.5m (17.5%) $1.2b (10.0%) 6.3% (9.6%) $10.54 (18.6%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model