Discounted Cash Flow (DCF) Analysis Levered
Arcosa, Inc. (ACA)
$64.71
-0.28 (-0.43%)
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 | 1,462.40 | 1,460.40 | 1,736.90 | 1,935.60 | 2,036.40 | 2,216.85 | 2,413.28 | 2,627.12 | 2,859.91 | 3,113.33 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 162 | 118.50 | 358.80 | 259.90 | 166.50 | 272.46 | 296.61 | 322.89 | 351.50 | 382.65 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -82.40 | -44.80 | -85.40 | -82.10 | -85.10 | -97.72 | -106.38 | -115.80 | -126.06 | -137.23 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 79.60 | 73.70 | 273.40 | 177.80 | 81.40 | 174.75 | 190.23 | 207.09 | 225.44 | 245.41 |
Weighted Average Cost Of Capital
Share price | $ 64.71 |
---|---|
Beta | 0.552 |
Diluted Shares Outstanding | 48.50 |
Cost of Debt | |
Tax Rate | 16.75 |
After-tax Cost of Debt | 2.86% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 5.430 |
Total Debt | 679.50 |
Total Equity | 3,138.43 |
Total Capital | 3,817.93 |
Debt Weighting | 17.80 |
Equity Weighting | 82.20 |
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 | 1,462.40 | 1,460.40 | 1,736.90 | 1,935.60 | 2,036.40 | 2,216.85 | 2,413.28 | 2,627.12 | 2,859.91 | 3,113.33 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 162 | 118.50 | 358.80 | 259.90 | 166.50 | 272.46 | 296.61 | 322.89 | 351.50 | 382.65 |
Capital Expenditure | -82.40 | -44.80 | -85.40 | -82.10 | -85.10 | -97.72 | -106.38 | -115.80 | -126.06 | -137.23 |
Free Cash Flow | 79.60 | 73.70 | 273.40 | 177.80 | 81.40 | 174.75 | 190.23 | 207.09 | 225.44 | 245.41 |
WACC | ||||||||||
PV LFCF | 166.47 | 172.64 | 179.04 | 185.68 | 192.56 | |||||
SUM PV LFCF | 896.40 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.97 |
Free cash flow (t + 1) | 250.32 |
Terminal Value | 8,428.34 |
Present Value of Terminal Value | 6,613.27 |
Intrinsic Value
Enterprise Value | 7,509.67 |
---|---|
Net Debt | 606.60 |
Equity Value | 6,903.07 |
Shares Outstanding | 48.50 |
Equity Value Per Share | 142.33 |