Discounted Cash Flow (DCF) Analysis Levered
Applied Industrial Technologies, In... (AIT)
$155.69
+0.80 (+0.52%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 3,472.74 | 3,245.65 | 3,235.92 | 3,810.68 | 4,412.79 | 4,707.61 | 5,022.12 | 5,357.64 | 5,715.58 | 6,097.43 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 180.60 | 296.71 | 241.70 | 187.57 | 343.97 | 325.09 | 346.81 | 369.98 | 394.70 | 421.07 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -18.97 | -20.11 | -15.85 | -18.12 | -26.48 | -25.72 | -27.44 | -29.27 | -31.22 | -33.31 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 161.63 | 276.60 | 225.85 | 169.45 | 317.49 | 299.38 | 319.38 | 340.72 | 363.48 | 387.76 |
Weighted Average Cost Of Capital
| Share price | $ 155.69 |
|---|---|
| Beta | 1.211 |
| Diluted Shares Outstanding | 39.22 |
| Cost of Debt | |
| Tax Rate | 22.91 |
| After-tax Cost of Debt | 3.07% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.259 |
| Total Debt | 622.10 |
| Total Equity | 6,106.16 |
| Total Capital | 6,728.26 |
| Debt Weighting | 9.25 |
| Equity Weighting | 90.75 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 3,472.74 | 3,245.65 | 3,235.92 | 3,810.68 | 4,412.79 | 4,707.61 | 5,022.12 | 5,357.64 | 5,715.58 | 6,097.43 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 180.60 | 296.71 | 241.70 | 187.57 | 343.97 | 325.09 | 346.81 | 369.98 | 394.70 | 421.07 |
| Capital Expenditure | -18.97 | -20.11 | -15.85 | -18.12 | -26.48 | -25.72 | -27.44 | -29.27 | -31.22 | -33.31 |
| Free Cash Flow | 161.63 | 276.60 | 225.85 | 169.45 | 317.49 | 299.38 | 319.38 | 340.72 | 363.48 | 387.76 |
| WACC | ||||||||||
| PV LFCF | 273.18 | 265.93 | 258.87 | 252 | 245.31 | |||||
| SUM PV LFCF | 1,295.28 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.59 |
| Free cash flow (t + 1) | 395.52 |
| Terminal Value | 5,211.02 |
| Present Value of Terminal Value | 3,296.62 |
Intrinsic Value
| Enterprise Value | 4,591.89 |
|---|---|
| Net Debt | 278.06 |
| Equity Value | 4,313.83 |
| Shares Outstanding | 39.22 |
| Equity Value Per Share | 109.99 |