Discounted Cash Flow (DCF) Analysis Levered
Abcam plc (ABCM)
$16.15
-0.13 (-0.80%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 217.10 | 233.20 | 259.90 | 260 | 297.70 | 322.56 | 349.50 | 378.69 | 410.31 | 444.58 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 66.38 | 63.30 | 70.20 | 63 | 71.90 | 85.88 | 93.05 | 100.82 | 109.24 | 118.36 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -19.17 | -37.40 | -40.40 | -35.70 | -57.20 | -47.32 | -51.28 | -55.56 | -60.20 | -65.23 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 47.21 | 25.90 | 29.80 | 27.30 | 14.70 | 38.55 | 41.77 | 45.26 | 49.04 | 53.13 |
Weighted Average Cost Of Capital
Share price | $ 16.15 |
---|---|
Beta | 0.644 |
Diluted Shares Outstanding | 209.60 |
Cost of Debt | |
Tax Rate | 36.52 |
After-tax Cost of Debt | 0.76% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 6.660 |
Total Debt | 234.20 |
Total Equity | 3,385.04 |
Total Capital | 3,619.24 |
Debt Weighting | 6.47 |
Equity Weighting | 93.53 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 217.10 | 233.20 | 259.90 | 260 | 297.70 | 322.56 | 349.50 | 378.69 | 410.31 | 444.58 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 66.38 | 63.30 | 70.20 | 63 | 71.90 | 85.88 | 93.05 | 100.82 | 109.24 | 118.36 |
Capital Expenditure | -19.17 | -37.40 | -40.40 | -35.70 | -57.20 | -47.32 | -51.28 | -55.56 | -60.20 | -65.23 |
Free Cash Flow | 47.21 | 25.90 | 29.80 | 27.30 | 14.70 | 38.55 | 41.77 | 45.26 | 49.04 | 53.13 |
WACC | ||||||||||
PV LFCF | 36.27 | 36.98 | 37.70 | 38.44 | 39.18 | |||||
SUM PV LFCF | 188.57 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.28 |
Free cash flow (t + 1) | 54.20 |
Terminal Value | 1,266.27 |
Present Value of Terminal Value | 933.83 |
Intrinsic Value
Enterprise Value | 1,122.40 |
---|---|
Net Debt | 46.90 |
Equity Value | 1,075.50 |
Shares Outstanding | 209.60 |
Equity Value Per Share | 5.13 |