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Valuation of a healthcare company on the example of Universal Health Services
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The purpose of this report is to guide the reader’s decision whether to invest or not to invest in Universal Health Services, Inc. (UHS) stocks. To provide comprehensive insides, we first analysed the business model, the hospital industry in the USA, macroeconomic trends and the political environment that could influence the valuation of UHS. Based on the gathered information, we performed three different types of valuation models. A peer multiple-based valuation, a residual operating income valuation and a discounted cash flow valuation. All three models lead us to the belief that the intrinsic value of UHS’ share is essentially higher than the market valuation of 106,81 US$ on the 02.01.2017. For UHS, we set a target price of 123,31US$.
Therefore, we conclude that the share of Universal Health Services, Inc. is undervalued and give the recommendation: BUY.
Descrição
A Work Project, presented as part of the requirements for the Award of a Master Degree in Management from the NOVA – School of Business and Economics
Palavras-chave
Valuation UHS Hospital Healthcare