Discounted Cash Flow (DCF) Analysis Levered

Associated Capital Group, Inc. (AC)

$41.84

+0.53 (+1.28%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.57 | 41.84 | overvalue

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 26.9122.7831.2618.9820.9220.5520.1819.8219.4619.11
Revenue (%)
Operating Cash Flow -67.6276.98-44.33-279.37238.19-15.96-15.68-15.39-15.12-14.85
Operating Cash Flow (%)
Capital Expenditure ---6.52-11.08-8.29-8.14-8-7.85-7.71-7.57
Capital Expenditure (%)
Free Cash Flow -67.6276.98-50.85-290.45229.90-24.10-23.67-23.25-22.83-22.42

Weighted Average Cost Of Capital

Share price $ 41.84
Beta 1.165
Diluted Shares Outstanding 22.37
Cost of Debt
Tax Rate 27.21
After-tax Cost of Debt 3.64%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.379
Total Debt -
Total Equity 935.92
Total Capital 935.92
Debt Weighting 0.00
Equity Weighting 100.00
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 26.9122.7831.2618.9820.9220.5520.1819.8219.4619.11
Operating Cash Flow -67.6276.98-44.33-279.37238.19-15.96-15.68-15.39-15.12-14.85
Capital Expenditure ---6.52-11.08-8.29-8.14-8-7.85-7.71-7.57
Free Cash Flow -67.6276.98-50.85-290.45229.90-24.10-23.67-23.25-22.83-22.42
WACC
PV LFCF -22.24-20.15-18.26-16.55-14.99
SUM PV LFCF -92.19

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.38
Free cash flow (t + 1) -22.87
Terminal Value -358.45
Present Value of Terminal Value -239.71

Intrinsic Value

Enterprise Value -331.90
Net Debt -319.05
Equity Value -12.85
Shares Outstanding 22.37
Equity Value Per Share -0.57