Discounted Cash Flow (DCF) Analysis Levered
Abcam plc (ABCM)
$22.65
-0.08 (-0.35%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 233.20 | 259.90 | 260 | 315.40 | 361.70 | 404.63 | 452.65 | 506.38 | 566.48 | 633.72 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 63.30 | 70.20 | 63 | 62.90 | 28.70 | 85.99 | 96.20 | 107.62 | 120.39 | 134.68 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -37.40 | -40.40 | -35.70 | -59.80 | -41.30 | -61.25 | -68.52 | -76.66 | -85.76 | -95.93 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 25.90 | 29.80 | 27.30 | 3.10 | -12.60 | 24.74 | 27.68 | 30.96 | 34.64 | 38.75 |
Weighted Average Cost Of Capital
Share price | $ 22.65 |
---|---|
Beta | 0.930 |
Diluted Shares Outstanding | 228.70 |
Cost of Debt | |
Tax Rate | 45.51 |
After-tax Cost of Debt | 1.31% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.989 |
Total Debt | 223.90 |
Total Equity | 5,180.06 |
Total Capital | 5,403.95 |
Debt Weighting | 4.14 |
Equity Weighting | 95.86 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 233.20 | 259.90 | 260 | 315.40 | 361.70 | 404.63 | 452.65 | 506.38 | 566.48 | 633.72 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 63.30 | 70.20 | 63 | 62.90 | 28.70 | 85.99 | 96.20 | 107.62 | 120.39 | 134.68 |
Capital Expenditure | -37.40 | -40.40 | -35.70 | -59.80 | -41.30 | -61.25 | -68.52 | -76.66 | -85.76 | -95.93 |
Free Cash Flow | 25.90 | 29.80 | 27.30 | 3.10 | -12.60 | 24.74 | 27.68 | 30.96 | 34.64 | 38.75 |
WACC | ||||||||||
PV LFCF | 22.77 | 23.44 | 24.13 | 24.84 | 25.57 | |||||
SUM PV LFCF | 120.73 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.67 |
Free cash flow (t + 1) | 39.52 |
Terminal Value | 592.54 |
Present Value of Terminal Value | 390.99 |
Intrinsic Value
Enterprise Value | 511.73 |
---|---|
Net Debt | 134.90 |
Equity Value | 376.83 |
Shares Outstanding | 228.70 |
Equity Value Per Share | 1.65 |