Discounted Cash Flow (DCF) Analysis Levered
Applied Industrial Technologies, In... (AIT)
$125.35
+2.39 (+1.94%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 3,073.27 | 3,472.74 | 3,245.65 | 3,235.92 | 3,810.68 | 4,038.56 | 4,280.08 | 4,536.03 | 4,807.30 | 5,094.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 147.30 | 180.60 | 296.71 | 241.70 | 187.57 | 254.65 | 269.88 | 286.01 | 303.12 | 321.25 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -23.23 | -18.97 | -20.11 | -15.85 | -18.12 | -23.32 | -24.72 | -26.19 | -27.76 | -29.42 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 124.07 | 161.63 | 276.60 | 225.85 | 169.45 | 231.33 | 245.16 | 259.82 | 275.36 | 291.82 |
Weighted Average Cost Of Capital
| Share price | $ 125.35 |
|---|---|
| Beta | 1.189 |
| Diluted Shares Outstanding | 39.30 |
| Cost of Debt | |
| Tax Rate | 21.95 |
| After-tax Cost of Debt | -2.97% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.213 |
| Total Debt | 689.32 |
| Total Equity | 4,925.75 |
| Total Capital | 5,615.08 |
| Debt Weighting | 12.28 |
| Equity Weighting | 87.72 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 3,073.27 | 3,472.74 | 3,245.65 | 3,235.92 | 3,810.68 | 4,038.56 | 4,280.08 | 4,536.03 | 4,807.30 | 5,094.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 147.30 | 180.60 | 296.71 | 241.70 | 187.57 | 254.65 | 269.88 | 286.01 | 303.12 | 321.25 |
| Capital Expenditure | -23.23 | -18.97 | -20.11 | -15.85 | -18.12 | -23.32 | -24.72 | -26.19 | -27.76 | -29.42 |
| Free Cash Flow | 124.07 | 161.63 | 276.60 | 225.85 | 169.45 | 231.33 | 245.16 | 259.82 | 275.36 | 291.82 |
| WACC | ||||||||||
| PV LFCF | 214.75 | 211.28 | 207.87 | 204.51 | 201.21 | |||||
| SUM PV LFCF | 1,039.61 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.72 |
| Free cash flow (t + 1) | 297.66 |
| Terminal Value | 5,203.86 |
| Present Value of Terminal Value | 3,587.93 |
Intrinsic Value
| Enterprise Value | 4,627.54 |
|---|---|
| Net Debt | 504.85 |
| Equity Value | 4,122.69 |
| Shares Outstanding | 39.30 |
| Equity Value Per Share | 104.91 |