Intrinsic value of R1 RCM Inc. - RCM

Previous Close

$12.72

  Intrinsic Value

$8.14

stock screener

  Rating & Target

sell

-36%

Previous close

$12.72

 
Intrinsic value

$8.14

 
Up/down potential

-36%

 
Rating

sell

We calculate the intrinsic value of RCM 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 0001), $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 1.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  1,390
  2,148
  3,213
  4,661
  6,576
  9,041
  12,136
  15,935
  20,504
  25,899
  32,160
  39,319
  47,393
  56,388
  66,303
  77,126
  88,842
  101,434
  114,879
  129,158
  144,252
  160,146
  176,827
  194,288
  212,526
  231,544
  251,349
  271,956
  293,381
  315,651
Variable operating expenses, $m
  1,373
  2,097
  3,115
  4,499
  6,330
  8,686
  11,645
  15,276
  19,645
  24,801
  30,744
  37,587
  45,305
  53,904
  63,381
  73,728
  84,928
  96,965
  109,817
  123,467
  137,897
  153,090
  169,037
  185,728
  203,163
  221,343
  240,276
  259,974
  280,456
  301,744
Fixed operating expenses, $m
  27
  27
  28
  28
  29
  30
  30
  31
  32
  32
  33
  34
  35
  35
  36
  37
  38
  38
  39
  40
  41
  42
  43
  44
  45
  46
  47
  48
  49
  50
Total operating expenses, $m
  1,400
  2,124
  3,143
  4,527
  6,359
  8,716
  11,675
  15,307
  19,677
  24,833
  30,777
  37,621
  45,340
  53,939
  63,417
  73,765
  84,966
  97,003
  109,856
  123,507
  137,938
  153,132
  169,080
  185,772
  203,208
  221,389
  240,323
  260,022
  280,505
  301,794
Operating income, $m
  -9
  24
  70
  134
  217
  325
  461
  628
  828
  1,065
  1,384
  1,699
  2,054
  2,449
  2,885
  3,361
  3,877
  4,430
  5,022
  5,650
  6,314
  7,014
  7,748
  8,516
  9,319
  10,155
  11,027
  11,934
  12,877
  13,857
EBITDA, $m
  73
  127
  203
  306
  443
  619
  841
  1,113
  1,440
  1,827
  2,276
  2,789
  3,368
  4,013
  4,724
  5,500
  6,340
  7,244
  8,208
  9,232
  10,315
  11,455
  12,652
  13,904
  15,213
  16,577
  17,998
  19,476
  21,013
  22,611
Interest expense (income), $m
  0
  53
  106
  199
  330
  508
  744
  1,047
  1,427
  1,894
  2,456
  3,119
  3,889
  4,769
  5,762
  6,868
  8,087
  9,418
  10,859
  12,407
  14,060
  15,816
  17,672
  19,626
  21,677
  23,824
  26,066
  28,405
  30,840
  33,373
  36,008
Earnings before tax, $m
  -62
  -82
  -129
  -196
  -291
  -418
  -586
  -799
  -1,066
  -1,391
  -1,735
  -2,191
  -2,716
  -3,313
  -3,983
  -4,726
  -5,541
  -6,428
  -7,385
  -8,410
  -9,501
  -10,658
  -11,878
  -13,161
  -14,505
  -15,911
  -17,377
  -18,906
  -20,497
  -22,151
Tax expense, $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
Net income, $m
  -62
  -82
  -129
  -196
  -291
  -418
  -586
  -799
  -1,066
  -1,391
  -1,735
  -2,191
  -2,716
  -3,313
  -3,983
  -4,726
  -5,541
  -6,428
  -7,385
  -8,410
  -9,501
  -10,658
  -11,878
  -13,161
  -14,505
  -15,911
  -17,377
  -18,906
  -20,497
  -22,151

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  1,292
  1,996
  2,986
  4,332
  6,112
  8,402
  11,279
  14,809
  19,056
  24,070
  29,889
  36,542
  44,045
  52,405
  61,619
  71,678
  82,567
  94,269
  106,765
  120,035
  134,063
  148,834
  164,337
  180,565
  197,515
  215,190
  233,596
  252,747
  272,659
  293,356
Adjusted assets (=assets-cash), $m
  1,292
  1,996
  2,986
  4,332
  6,112
  8,402
  11,279
  14,809
  19,056
  24,070
  29,889
  36,542
  44,045
  52,405
  61,619
  71,678
  82,567
  94,269
  106,765
  120,035
  134,063
  148,834
  164,337
  180,565
  197,515
  215,190
  233,596
  252,747
  272,659
  293,356
Revenue / Adjusted assets
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
  1.076
Average production assets, $m
  289
  447
  668
  970
  1,368
  1,881
  2,524
  3,314
  4,265
  5,387
  6,689
  8,178
  9,858
  11,729
  13,791
  16,042
  18,479
  21,098
  23,895
  26,865
  30,004
  33,310
  36,780
  40,412
  44,205
  48,161
  52,281
  56,567
  61,023
  65,655
Working capital, $m
  -99
  -153
  -228
  -331
  -467
  -642
  -862
  -1,131
  -1,456
  -1,839
  -2,283
  -2,792
  -3,365
  -4,004
  -4,707
  -5,476
  -6,308
  -7,202
  -8,156
  -9,170
  -10,242
  -11,370
  -12,555
  -13,794
  -15,089
  -16,440
  -17,846
  -19,309
  -20,830
  -22,411
Total debt, $m
  720
  1,354
  2,245
  3,456
  5,058
  7,120
  9,708
  12,886
  16,708
  21,220
  26,458
  32,445
  39,198
  46,722
  55,015
  64,068
  73,868
  84,400
  95,646
  107,589
  120,215
  133,509
  147,461
  162,066
  177,321
  193,228
  209,794
  227,030
  244,951
  263,578
Total liabilities, $m
  1,163
  1,797
  2,687
  3,899
  5,501
  7,562
  10,151
  13,329
  17,151
  21,663
  26,900
  32,888
  39,641
  47,165
  55,458
  64,510
  74,311
  84,842
  96,088
  108,032
  120,657
  133,951
  147,904
  162,509
  177,764
  193,671
  210,236
  227,472
  245,393
  264,020
Total equity, $m
  129
  200
  299
  433
  611
  840
  1,128
  1,481
  1,906
  2,407
  2,989
  3,654
  4,405
  5,241
  6,162
  7,168
  8,257
  9,427
  10,676
  12,004
  13,406
  14,883
  16,434
  18,057
  19,752
  21,519
  23,360
  25,275
  27,266
  29,336
Total liabilities and equity, $m
  1,292
  1,997
  2,986
  4,332
  6,112
  8,402
  11,279
  14,810
  19,057
  24,070
  29,889
  36,542
  44,046
  52,406
  61,620
  71,678
  82,568
  94,269
  106,764
  120,036
  134,063
  148,834
  164,338
  180,566
  197,516
  215,190
  233,596
  252,747
  272,659
  293,356
Debt-to-equity ratio
  5.580
  6.780
  7.520
  7.980
  8.280
  8.470
  8.610
  8.700
  8.770
  8.820
  8.850
  8.880
  8.900
  8.920
  8.930
  8.940
  8.950
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.980
  8.980
  8.980
Adjusted equity ratio
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -62
  -82
  -129
  -196
  -291
  -418
  -586
  -799
  -1,066
  -1,391
  -1,735
  -2,191
  -2,716
  -3,313
  -3,983
  -4,726
  -5,541
  -6,428
  -7,385
  -8,410
  -9,501
  -10,658
  -11,878
  -13,161
  -14,505
  -15,911
  -17,377
  -18,906
  -20,497
  -22,151
Depreciation, amort., depletion, $m
  82
  103
  133
  173
  226
  294
  380
  485
  612
  762
  892
  1,090
  1,314
  1,564
  1,839
  2,139
  2,464
  2,813
  3,186
  3,582
  4,001
  4,441
  4,904
  5,388
  5,894
  6,421
  6,971
  7,542
  8,136
  8,754
Funds from operations, $m
  21
  21
  4
  -24
  -65
  -124
  -206
  -314
  -454
  -629
  -844
  -1,100
  -1,402
  -1,749
  -2,144
  -2,587
  -3,078
  -3,615
  -4,199
  -4,828
  -5,501
  -6,216
  -6,974
  -7,773
  -8,611
  -9,489
  -10,407
  -11,364
  -12,360
  -13,397
Change in working capital, $m
  -37
  -54
  -76
  -103
  -136
  -175
  -220
  -270
  -324
  -383
  -445
  -508
  -573
  -639
  -704
  -768
  -832
  -894
  -955
  -1,014
  -1,072
  -1,128
  -1,184
  -1,240
  -1,295
  -1,350
  -1,406
  -1,463
  -1,521
  -1,581
Cash from operations, $m
  58
  75
  79
  79
  71
  51
  14
  -44
  -129
  -246
  -399
  -592
  -828
  -1,111
  -1,440
  -1,819
  -2,246
  -2,721
  -3,244
  -3,814
  -4,429
  -5,088
  -5,790
  -6,533
  -7,316
  -8,139
  -9,001
  -9,901
  -10,839
  -11,816
Maintenance CAPEX, $m
  -24
  -39
  -60
  -89
  -129
  -182
  -251
  -337
  -442
  -569
  -718
  -892
  -1,090
  -1,314
  -1,564
  -1,839
  -2,139
  -2,464
  -2,813
  -3,186
  -3,582
  -4,001
  -4,441
  -4,904
  -5,388
  -5,894
  -6,421
  -6,971
  -7,542
  -8,136
New CAPEX, $m
  -109
  -158
  -221
  -301
  -398
  -513
  -644
  -790
  -950
  -1,122
  -1,302
  -1,489
  -1,679
  -1,871
  -2,062
  -2,251
  -2,437
  -2,619
  -2,797
  -2,970
  -3,140
  -3,306
  -3,470
  -3,632
  -3,794
  -3,956
  -4,120
  -4,286
  -4,457
  -4,632
Cash from investing activities, $m
  -133
  -197
  -281
  -390
  -527
  -695
  -895
  -1,127
  -1,392
  -1,691
  -2,020
  -2,381
  -2,769
  -3,185
  -3,626
  -4,090
  -4,576
  -5,083
  -5,610
  -6,156
  -6,722
  -7,307
  -7,911
  -8,536
  -9,182
  -9,850
  -10,541
  -11,257
  -11,999
  -12,768
Free cash flow, $m
  -75
  -121
  -202
  -311
  -457
  -644
  -880
  -1,171
  -1,522
  -1,937
  -2,420
  -2,973
  -3,598
  -4,296
  -5,066
  -5,909
  -6,822
  -7,804
  -8,854
  -9,970
  -11,151
  -12,395
  -13,701
  -15,069
  -16,498
  -17,989
  -19,542
  -21,157
  -22,838
  -24,584
Issuance/(repayment) of debt, $m
  362
  634
  890
  1,212
  1,602
  2,062
  2,588
  3,178
  3,822
  4,512
  5,237
  5,988
  6,753
  7,524
  8,293
  9,053
  9,800
  10,532
  11,246
  11,943
  12,625
  13,294
  13,953
  14,605
  15,255
  15,907
  16,566
  17,236
  17,921
  18,627
Issuance/(repurchase) of shares, $m
  184
  152
  228
  331
  469
  647
  873
  1,153
  1,491
  1,892
  2,317
  2,856
  3,466
  4,149
  4,905
  5,732
  6,630
  7,598
  8,634
  9,737
  10,904
  12,135
  13,428
  14,784
  16,200
  17,678
  19,218
  20,821
  22,488
  24,221
Cash from financing (excl. dividends), $m  
  546
  786
  1,118
  1,543
  2,071
  2,709
  3,461
  4,331
  5,313
  6,404
  7,554
  8,844
  10,219
  11,673
  13,198
  14,785
  16,430
  18,130
  19,880
  21,680
  23,529
  25,429
  27,381
  29,389
  31,455
  33,585
  35,784
  38,057
  40,409
  42,848
Total cash flow (excl. dividends), $m
  471
  665
  916
  1,232
  1,614
  2,065
  2,581
  3,159
  3,791
  4,467
  5,135
  5,871
  6,621
  7,377
  8,131
  8,876
  9,609
  10,326
  11,026
  11,710
  12,379
  13,034
  13,680
  14,320
  14,957
  15,597
  16,242
  16,899
  17,571
  18,263
Retained Cash Flow (-), $m
  -184
  -152
  -228
  -331
  -469
  -647
  -873
  -1,153
  -1,491
  -1,892
  -2,317
  -2,856
  -3,466
  -4,149
  -4,905
  -5,732
  -6,630
  -7,598
  -8,634
  -9,737
  -10,904
  -12,135
  -13,428
  -14,784
  -16,200
  -17,678
  -19,218
  -20,821
  -22,488
  -24,221
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
  287
  513
  689
  900
  1,145
  1,417
  1,708
  2,007
  2,300
  2,575
  2,818
  3,015
  3,155
  3,228
  3,226
  3,144
  2,978
  2,728
  2,392
  1,974
  1,475
  900
  252
  -464
  -1,243
  -2,082
  -2,976
  -3,922
  -4,916
  -5,957
Discount rate, %
  12.30
  12.92
  13.56
  14.24
  14.95
  15.70
  16.48
  17.31
  18.17
  19.08
  20.04
  21.04
  22.09
  23.19
  24.35
  25.57
  26.85
  28.19
  29.60
  31.08
  32.64
  34.27
  35.98
  37.78
  39.67
  41.65
  43.73
  45.92
  48.22
  50.63
PV of cash for distribution, $m
  255
  402
  470
  529
  571
  591
  587
  560
  512
  449
  378
  305
  236
  174
  123
  82
  52
  31
  17
  9
  4
  1
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  25.5
  22.8
  20.4
  18.4
  16.6
  15.0
  13.6
  12.3
  11.2
  10.2
  9.3
  8.5
  7.8
  7.1
  6.5
  5.9
  5.4
  5.0
  4.6
  4.2
  3.8
  3.5
  3.2
  3.0
  2.7
  2.5
  2.3
  2.1
  1.9
  1.8

R1 RCM Inc., formerly Accretive Health, Inc., is a provider of revenue cycle management (RCM) and physician advisory services (PAS) to healthcare providers. The Company is engaged in providing management services of revenue cycle operations for the United States-based hospitals and other medical services providers. Its primary service offering consists of end-to-end RCM, which the Company deploys through a co-managed relationship or an operating partner relationship. The Company's PAS offering assists hospitals in complying with payer requirements regarding whether to classify a hospital visit as an in-patient or an out-patient observation case for billing purposes. The Company also provides customers with retrospective appeal management service support for both governmental and commercial payers. Its physicians conduct detailed retrospective reviews of medical records to identify medical necessity for hospital services and the required documentation to support an appeal.

FINANCIAL RATIOS  of  R1 RCM Inc. (RCM)

Valuation Ratios
P/E Ratio 7.7
Price to Sales 2.3
Price to Book 8.5
Price to Tangible Book
Price to Cash Flow -15.6
Price to Free Cash Flow -13.6
Growth Rates
Sales Growth Rate 406.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -38.1%
Cap. Spend. - 3 Yr. Gr. Rate 45.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 40.5%
Ret/ On Assets - 3 Yr. Avg. 1.7%
Return On Total Capital -655.6%
Ret/ On T. Cap. - 3 Yr. Avg. -179.4%
Return On Equity -655.6%
Return On Equity - 3 Yr. Avg. -179.4%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 66.3%
Gross Margin - 3 Yr. Avg. 11.7%
EBITDA Margin 51.9%
EBITDA Margin - 3 Yr. Avg. -38.5%
Operating Margin 50.3%
Oper. Margin - 3 Yr. Avg. -42.5%
Pre-Tax Margin 50.3%
Pre-Tax Margin - 3 Yr. Avg. -42.3%
Net Profit Margin 29.8%
Net Profit Margin - 3 Yr. Avg. -26.7%
Effective Tax Rate 40.6%
Eff/ Tax Rate - 3 Yr. Avg. 38.8%
Payout Ratio 0%

RCM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RCM stock intrinsic value calculation we used $869 million for the last fiscal year's total revenue generated by R1 RCM Inc.. The default revenue input number comes from 0001 income statement of R1 RCM Inc.. 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 RCM stock valuation model: a) initial revenue growth rate of 60% 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 12.3%, whose default value for RCM is calculated based on our internal credit rating of R1 RCM Inc., 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 R1 RCM Inc..
    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 RCM stock the variable cost ratio is equal to 100.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $26 million in the base year in the intrinsic value calculation for RCM 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 14.7% for R1 RCM Inc..

Corporate tax rate of 27% is the nominal tax rate for R1 RCM Inc.. 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 RCM 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 RCM are equal to 20.8%.

Life of production assets of 7.5 years is the average useful life of capital assets used in R1 RCM Inc. 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 RCM is equal to -7.1%. 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 - $6.3 million for R1 RCM Inc. - 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 110.101 million for R1 RCM Inc. 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 R1 RCM Inc. at the current share price and the inputted number of shares is $1.4 billion.

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