Valuing Medicalgorithmics' ECG Business Using DCF Method

DCF valuation – ECG business

DCF valuation – ECG business

To value Medicalgorithmics’ ECG business, we use a DCF model based on our free cash flows forecasts on consolidated numbers for the 2023E-2032E period. We applied a 5.5% equity risk premium, 5.60% risk free rate and 1.0% debt risk premium to reflect effective average costs of long-term financing. We assume standard unlevered beta at 1.0x and 2.0% growth rate in terminal year.

GPW’s Analytical Coverage Support Programme 3.0

The Warsaw Stock Exchange's (GPW's) Analytical Coverage Support Programme 3.0 supports investment firms in drafting analytical reports which are financed by GPW. The objective of the Programme is to improve the availability of research covering less liquid companies, facilitating investors' informed investment decisions based on a reliable independent source of issuer information. Eligible to participate in the Programme are companies listed on the GPW Main Market (other than WIG20 participants) and on NewConnect. The Programme covers up to 50 issuers.

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forecasts risk-free rate DCF valuation equity risk premium terminal growth rate medicalgorithmics ECG business free cash flows debt risk premium unlevered beta

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DCF valuation – ECG business

GPW’s Analytical Coverage Support Programme 3.0

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