Intrinsic value of Universal Health Services Cl B - UHS

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$116.07

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$116.07

 
Intrinsic value

$135.95

 
Up/down potential

+17%

 
Rating

hold

 
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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of UHS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 11.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.00
  6.70
  6.53
  6.38
  6.24
  6.12
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
Revenue, $m
  9,766
  10,420
  11,101
  11,809
  12,545
  13,313
  14,112
  14,945
  15,814
  16,720
  17,666
  18,654
  19,687
  20,765
  21,893
  23,073
  24,308
  25,600
  26,952
  28,369
  29,852
  31,406
  33,035
  34,742
  36,532
  38,408
  40,375
  42,438
  44,602
  46,872
  49,253
Variable operating expenses, $m
 
  8,947
  9,506
  10,088
  10,694
  11,325
  11,982
  12,667
  13,381
  14,127
  14,905
  15,339
  16,187
  17,074
  18,002
  18,972
  19,987
  21,049
  22,162
  23,326
  24,546
  25,824
  27,163
  28,567
  30,038
  31,581
  33,199
  34,895
  36,674
  38,541
  40,498
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  8,485
  8,947
  9,506
  10,088
  10,694
  11,325
  11,982
  12,667
  13,381
  14,127
  14,905
  15,339
  16,187
  17,074
  18,002
  18,972
  19,987
  21,049
  22,162
  23,326
  24,546
  25,824
  27,163
  28,567
  30,038
  31,581
  33,199
  34,895
  36,674
  38,541
  40,498
Operating income, $m
  1,281
  1,474
  1,595
  1,721
  1,852
  1,988
  2,130
  2,278
  2,432
  2,594
  2,762
  3,316
  3,499
  3,691
  3,891
  4,101
  4,321
  4,550
  4,791
  5,042
  5,306
  5,582
  5,872
  6,175
  6,493
  6,827
  7,177
  7,543
  7,928
  8,331
  8,755
EBITDA, $m
  1,698
  2,086
  2,223
  2,364
  2,512
  2,665
  2,825
  2,992
  3,166
  3,348
  3,537
  3,735
  3,942
  4,158
  4,383
  4,620
  4,867
  5,126
  5,396
  5,680
  5,977
  6,288
  6,614
  6,956
  7,314
  7,690
  8,084
  8,497
  8,930
  9,385
  9,861
Interest expense (income), $m
  107
  144
  157
  171
  185
  201
  216
  233
  250
  268
  287
  306
  326
  348
  370
  393
  417
  443
  470
  497
  527
  557
  589
  623
  658
  695
  733
  774
  816
  861
  908
Earnings before tax, $m
  1,156
  1,330
  1,438
  1,550
  1,666
  1,787
  1,913
  2,045
  2,182
  2,326
  2,475
  3,010
  3,173
  3,343
  3,522
  3,708
  3,903
  4,107
  4,321
  4,545
  4,780
  5,025
  5,283
  5,553
  5,836
  6,132
  6,443
  6,769
  7,112
  7,470
  7,847
Tax expense, $m
  409
  359
  388
  418
  450
  483
  517
  552
  589
  628
  668
  813
  857
  903
  951
  1,001
  1,054
  1,109
  1,167
  1,227
  1,290
  1,357
  1,426
  1,499
  1,576
  1,656
  1,740
  1,828
  1,920
  2,017
  2,119
Net income, $m
  702
  971
  1,050
  1,131
  1,216
  1,305
  1,397
  1,493
  1,593
  1,698
  1,807
  2,197
  2,316
  2,441
  2,571
  2,707
  2,849
  2,998
  3,154
  3,318
  3,489
  3,668
  3,856
  4,053
  4,260
  4,477
  4,704
  4,942
  5,191
  5,453
  5,728

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  34
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  10,318
  10,969
  11,685
  12,430
  13,206
  14,013
  14,855
  15,732
  16,646
  17,600
  18,596
  19,636
  20,723
  21,858
  23,046
  24,288
  25,587
  26,947
  28,371
  29,862
  31,423
  33,059
  34,774
  36,571
  38,454
  40,429
  42,500
  44,672
  46,950
  49,339
  51,845
Adjusted assets (=assets-cash), $m
  10,284
  10,969
  11,685
  12,430
  13,206
  14,013
  14,855
  15,732
  16,646
  17,600
  18,596
  19,636
  20,723
  21,858
  23,046
  24,288
  25,587
  26,947
  28,371
  29,862
  31,423
  33,059
  34,774
  36,571
  38,454
  40,429
  42,500
  44,672
  46,950
  49,339
  51,845
Revenue / Adjusted assets
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
  0.950
Average production assets, $m
  4,084
  4,356
  4,640
  4,936
  5,244
  5,565
  5,899
  6,247
  6,610
  6,989
  7,385
  7,798
  8,229
  8,680
  9,151
  9,645
  10,161
  10,701
  11,266
  11,858
  12,478
  13,128
  13,809
  14,522
  15,270
  16,054
  16,877
  17,739
  18,644
  19,592
  20,588
Working capital, $m
  364
  469
  500
  531
  565
  599
  635
  673
  712
  752
  795
  839
  886
  934
  985
  1,038
  1,094
  1,152
  1,213
  1,277
  1,343
  1,413
  1,487
  1,563
  1,644
  1,728
  1,817
  1,910
  2,007
  2,109
  2,216
Total debt, $m
  4,136
  4,483
  4,883
  5,299
  5,733
  6,184
  6,655
  7,145
  7,656
  8,190
  8,746
  9,328
  9,935
  10,570
  11,234
  11,928
  12,654
  13,414
  14,210
  15,044
  15,917
  16,831
  17,790
  18,794
  19,847
  20,951
  22,109
  23,323
  24,596
  25,931
  27,332
Total liabilities, $m
  5,785
  6,132
  6,532
  6,948
  7,382
  7,833
  8,304
  8,794
  9,305
  9,839
  10,395
  10,977
  11,584
  12,219
  12,883
  13,577
  14,303
  15,063
  15,859
  16,693
  17,566
  18,480
  19,439
  20,443
  21,496
  22,600
  23,758
  24,972
  26,245
  27,580
  28,981
Total equity, $m
  4,533
  4,837
  5,153
  5,482
  5,824
  6,180
  6,551
  6,938
  7,341
  7,762
  8,201
  8,660
  9,139
  9,640
  10,163
  10,711
  11,284
  11,884
  12,511
  13,169
  13,858
  14,579
  15,335
  16,128
  16,958
  17,829
  18,743
  19,700
  20,705
  21,758
  22,864
Total liabilities and equity, $m
  10,318
  10,969
  11,685
  12,430
  13,206
  14,013
  14,855
  15,732
  16,646
  17,601
  18,596
  19,637
  20,723
  21,859
  23,046
  24,288
  25,587
  26,947
  28,370
  29,862
  31,424
  33,059
  34,774
  36,571
  38,454
  40,429
  42,501
  44,672
  46,950
  49,338
  51,845
Debt-to-equity ratio
  0.912
  0.930
  0.950
  0.970
  0.980
  1.000
  1.020
  1.030
  1.040
  1.060
  1.070
  1.080
  1.090
  1.100
  1.110
  1.110
  1.120
  1.130
  1.140
  1.140
  1.150
  1.150
  1.160
  1.170
  1.170
  1.180
  1.180
  1.180
  1.190
  1.190
  1.200
Adjusted equity ratio
  0.437
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441
  0.441

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  702
  971
  1,050
  1,131
  1,216
  1,305
  1,397
  1,493
  1,593
  1,698
  1,807
  2,197
  2,316
  2,441
  2,571
  2,707
  2,849
  2,998
  3,154
  3,318
  3,489
  3,668
  3,856
  4,053
  4,260
  4,477
  4,704
  4,942
  5,191
  5,453
  5,728
Depreciation, amort., depletion, $m
  417
  613
  628
  644
  660
  678
  696
  714
  734
  754
  775
  419
  442
  467
  492
  519
  546
  575
  606
  638
  671
  706
  742
  781
  821
  863
  907
  954
  1,002
  1,053
  1,107
Funds from operations, $m
  1,365
  1,584
  1,677
  1,775
  1,877
  1,982
  2,092
  2,207
  2,327
  2,452
  2,582
  2,616
  2,759
  2,907
  3,063
  3,225
  3,396
  3,574
  3,760
  3,955
  4,160
  4,374
  4,599
  4,834
  5,081
  5,340
  5,611
  5,895
  6,194
  6,507
  6,835
Change in working capital, $m
  77
  29
  31
  32
  33
  35
  36
  37
  39
  41
  43
  44
  46
  49
  51
  53
  56
  58
  61
  64
  67
  70
  73
  77
  81
  84
  89
  93
  97
  102
  107
Cash from operations, $m
  1,288
  1,802
  1,647
  1,743
  1,843
  1,948
  2,056
  2,170
  2,288
  2,411
  2,540
  2,572
  2,712
  2,859
  3,012
  3,172
  3,340
  3,516
  3,699
  3,892
  4,093
  4,304
  4,526
  4,757
  5,000
  5,255
  5,522
  5,803
  6,096
  6,405
  6,728
Maintenance CAPEX, $m
  0
  -220
  -234
  -249
  -265
  -282
  -299
  -317
  -336
  -355
  -376
  -397
  -419
  -442
  -467
  -492
  -519
  -546
  -575
  -606
  -638
  -671
  -706
  -742
  -781
  -821
  -863
  -907
  -954
  -1,002
  -1,053
New CAPEX, $m
  -541
  -272
  -284
  -296
  -308
  -321
  -334
  -348
  -363
  -379
  -395
  -413
  -431
  -451
  -472
  -493
  -516
  -540
  -565
  -592
  -620
  -650
  -681
  -714
  -748
  -784
  -822
  -862
  -904
  -949
  -995
Cash from investing activities, $m
  -1,187
  -492
  -518
  -545
  -573
  -603
  -633
  -665
  -699
  -734
  -771
  -810
  -850
  -893
  -939
  -985
  -1,035
  -1,086
  -1,140
  -1,198
  -1,258
  -1,321
  -1,387
  -1,456
  -1,529
  -1,605
  -1,685
  -1,769
  -1,858
  -1,951
  -2,048
Free cash flow, $m
  101
  1,310
  1,128
  1,198
  1,270
  1,345
  1,423
  1,504
  1,589
  1,677
  1,768
  1,762
  1,861
  1,965
  2,074
  2,187
  2,305
  2,429
  2,559
  2,694
  2,836
  2,984
  3,139
  3,301
  3,472
  3,650
  3,837
  4,033
  4,238
  4,454
  4,679
Issuance/(repayment) of debt, $m
  712
  381
  400
  417
  434
  451
  470
  490
  511
  533
  557
  581
  607
  635
  664
  694
  726
  760
  796
  833
  873
  915
  958
  1,004
  1,053
  1,104
  1,158
  1,214
  1,273
  1,336
  1,401
Issuance/(repurchase) of shares, $m
  -344
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -87
  381
  400
  417
  434
  451
  470
  490
  511
  533
  557
  581
  607
  635
  664
  694
  726
  760
  796
  833
  873
  915
  958
  1,004
  1,053
  1,104
  1,158
  1,214
  1,273
  1,336
  1,401
Total cash flow (excl. dividends), $m
  12
  1,690
  1,529
  1,614
  1,704
  1,797
  1,893
  1,995
  2,100
  2,210
  2,325
  2,343
  2,469
  2,600
  2,738
  2,881
  3,032
  3,189
  3,354
  3,527
  3,709
  3,898
  4,097
  4,306
  4,525
  4,754
  4,995
  5,247
  5,511
  5,789
  6,080
Retained Cash Flow (-), $m
  -283
  -304
  -316
  -329
  -342
  -356
  -371
  -387
  -403
  -421
  -439
  -459
  -479
  -501
  -524
  -548
  -573
  -600
  -628
  -657
  -689
  -722
  -756
  -792
  -831
  -871
  -913
  -958
  -1,004
  -1,054
  -1,105
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,386
  1,213
  1,286
  1,362
  1,440
  1,522
  1,608
  1,697
  1,789
  1,886
  1,884
  1,990
  2,099
  2,214
  2,334
  2,459
  2,590
  2,727
  2,870
  3,020
  3,177
  3,341
  3,513
  3,694
  3,883
  4,081
  4,289
  4,507
  4,735
  4,975
Discount rate, %
 
  7.00
  7.35
  7.72
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.86
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.85
  17.69
  18.57
  19.50
  20.48
  21.50
  22.58
  23.70
  24.89
  26.13
  27.44
  28.81
PV of cash for distribution, $m
 
  1,296
  1,052
  1,029
  997
  958
  911
  858
  800
  738
  673
  575
  512
  450
  390
  333
  280
  231
  187
  149
  116
  89
  66
  48
  34
  24
  16
  11
  7
  4
  3
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Universal Health Services, Inc., through its subsidiaries, owns and operates acute care hospitals, behavioral health centers, surgical hospitals, ambulatory surgery centers, and radiation oncology centers. The company’s hospitals provide various services, including general and specialty surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, pediatric services, pharmacy services, and/or behavioral health services. As of February 25, 2016, it owned and/or operated 24 inpatient acute care hospitals, 3 free-standing emergency departments, and 213 inpatient and 16 outpatient behavioral health care facilities located in 37 states, Washington, D.C.; the United Kingdom; Puerto Rico; and the U.S. Virgin Islands. Universal Health Services, Inc. was founded in 1978 and is headquartered in King of Prussia, Pennsylvania.

FINANCIAL RATIOS  of  Universal Health Services Cl B (UHS)

Valuation Ratios
P/E Ratio 16
Price to Sales 1.1
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 8.7
Price to Free Cash Flow 15
Growth Rates
Sales Growth Rate 8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 42.7%
Cap. Spend. - 3 Yr. Gr. Rate 5.8%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 88.9%
Total Debt to Equity 91.2%
Interest Coverage 12
Management Effectiveness
Return On Assets 7.7%
Ret/ On Assets - 3 Yr. Avg. 7.7%
Return On Total Capital 8.6%
Ret/ On T. Cap. - 3 Yr. Avg. 8.6%
Return On Equity 16%
Return On Equity - 3 Yr. Avg. 16.2%
Asset Turnover 1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 17.2%
EBITDA Margin - 3 Yr. Avg. 17.7%
Operating Margin 13.1%
Oper. Margin - 3 Yr. Avg. 13.3%
Pre-Tax Margin 11.8%
Pre-Tax Margin - 3 Yr. Avg. 11.9%
Net Profit Margin 7.2%
Net Profit Margin - 3 Yr. Avg. 7.1%
Effective Tax Rate 35.4%
Eff/ Tax Rate - 3 Yr. Avg. 34.9%
Payout Ratio 5.6%

UHS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the UHS stock intrinsic value calculation we used $9766 million for the last fiscal year's total revenue generated by Universal Health Services Cl B. The default revenue input number comes from 2016 income statement of Universal Health Services Cl B. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our UHS stock valuation model: a) initial revenue growth rate of 6.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7%, whose default value for UHS is calculated based on our internal credit rating of Universal Health Services Cl B, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Universal Health Services Cl B.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of UHS stock the variable cost ratio is equal to 86.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for UHS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Universal Health Services Cl B.

Corporate tax rate of 27% is the nominal tax rate for Universal Health Services Cl B. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the UHS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for UHS are equal to 41.8%.

Life of production assets of 18.6 years is the average useful life of capital assets used in Universal Health Services Cl B operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for UHS is equal to 4.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4533 million for Universal Health Services Cl B - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 94.451 million for Universal Health Services Cl B is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Universal Health Services Cl B at the current share price and the inputted number of shares is $11.0 billion.


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COMPANY NEWS

▶ Universal Health Services, Inc. Announces Dividend   [May-17-17 05:12PM  PR Newswire]
▶ Home Depot, Walmart What to watch in the markets this week   [May-14-17 04:32PM  Yahoo Finance]
▶ Controversial psychiatric chain still seeking to build Wilsonville hospital   [May-03-17 05:30PM  American City Business Journals]
▶ Universal Health Services posts 1Q profit   [05:08PM  Associated Press]
▶ 10 Most Profitable For Profit Hospitals in America   [Mar-31-17 05:05PM  at Insider Monkey]
▶ Universal Health Services CEO on GOP's Health Care Loss   [Mar-30-17 07:18PM  Bloomberg Video]
Stock chart of UHS Financial statements of UHS Annual reports of UHS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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