Discounted Cash Flow (DCF) Analysis Levered
PlayAGS, Inc. (AGS)
$7.7
-0.03 (-0.39%)
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 | 211.96 | 285.30 | 304.71 | 167.01 | 259.70 | 293.27 | 331.19 | 374.01 | 422.37 | 476.97 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 44.01 | 45.51 | 87.99 | 36.17 | 78.33 | 68.87 | 77.77 | 87.83 | 99.18 | 112 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -57.48 | -66.18 | -71.06 | -35.71 | -36.10 | -63.89 | -72.15 | -81.47 | -92.01 | -103.90 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -13.47 | -20.67 | 16.92 | 0.46 | 42.23 | 4.98 | 5.62 | 6.35 | 7.17 | 8.10 |
Weighted Average Cost Of Capital
Share price | $ 7.7 |
---|---|
Beta | 2.544 |
Diluted Shares Outstanding | 35.64 |
Cost of Debt | |
Tax Rate | 8.87 |
After-tax Cost of Debt | 6.54% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 14.984 |
Total Debt | 618.03 |
Total Equity | 274.42 |
Total Capital | 892.45 |
Debt Weighting | 69.25 |
Equity Weighting | 30.75 |
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 | 211.96 | 285.30 | 304.71 | 167.01 | 259.70 | 293.27 | 331.19 | 374.01 | 422.37 | 476.97 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 44.01 | 45.51 | 87.99 | 36.17 | 78.33 | 68.87 | 77.77 | 87.83 | 99.18 | 112 |
Capital Expenditure | -57.48 | -66.18 | -71.06 | -35.71 | -36.10 | -63.89 | -72.15 | -81.47 | -92.01 | -103.90 |
Free Cash Flow | -13.47 | -20.67 | 16.92 | 0.46 | 42.23 | 4.98 | 5.62 | 6.35 | 7.17 | 8.10 |
WACC | ||||||||||
PV LFCF | 4.56 | 4.72 | 4.89 | 5.06 | 5.23 | |||||
SUM PV LFCF | 24.46 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.14 |
Free cash flow (t + 1) | 8.26 |
Terminal Value | 115.71 |
Present Value of Terminal Value | 74.72 |
Intrinsic Value
Enterprise Value | 99.18 |
---|---|
Net Debt | 523.05 |
Equity Value | -423.87 |
Shares Outstanding | 35.64 |
Equity Value Per Share | -11.89 |