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
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 | 26.91 | 22.78 | 31.26 | 18.98 | 20.92 | 20.55 | 20.18 | 19.82 | 19.46 | 19.11 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -67.62 | 76.98 | -44.33 | -279.37 | 238.19 | -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 | -67.62 | 76.98 | -50.85 | -290.45 | 229.90 | -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 | 26.91 | 22.78 | 31.26 | 18.98 | 20.92 | 20.55 | 20.18 | 19.82 | 19.46 | 19.11 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -67.62 | 76.98 | -44.33 | -279.37 | 238.19 | -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 | -67.62 | 76.98 | -50.85 | -290.45 | 229.90 | -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 |