Discounted Cash Flow (DCF) Analysis Levered
Abercrombie & Fitch Co. (ANF)
$56.05
+1.49 (+2.73%)
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 | 3,590.11 | 3,623.07 | 3,125.38 | 3,712.77 | 3,697.75 | 3,749.25 | 3,801.47 | 3,854.42 | 3,908.10 | 3,962.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 352.93 | 300.68 | 404.92 | 274 | -2.34 | 287.96 | 291.97 | 296.04 | 300.16 | 304.34 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -152.39 | -202.78 | -101.91 | -96.98 | -164.57 | -151.21 | -153.31 | -155.45 | -157.61 | -159.81 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 200.54 | 97.90 | 303.01 | 177.02 | -166.91 | 136.75 | 138.66 | 140.59 | 142.55 | 144.53 |
Weighted Average Cost Of Capital
| Share price | $ 56.05 |
|---|---|
| Beta | 1.476 |
| Diluted Shares Outstanding | 52.33 |
| Cost of Debt | |
| Tax Rate | 84.50 |
| After-tax Cost of Debt | 0.32% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.564 |
| Total Debt | 1,224.19 |
| Total Equity | 2,932.93 |
| Total Capital | 4,157.12 |
| Debt Weighting | 29.45 |
| Equity Weighting | 70.55 |
| 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 | 3,590.11 | 3,623.07 | 3,125.38 | 3,712.77 | 3,697.75 | 3,749.25 | 3,801.47 | 3,854.42 | 3,908.10 | 3,962.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 352.93 | 300.68 | 404.92 | 274 | -2.34 | 287.96 | 291.97 | 296.04 | 300.16 | 304.34 |
| Capital Expenditure | -152.39 | -202.78 | -101.91 | -96.98 | -164.57 | -151.21 | -153.31 | -155.45 | -157.61 | -159.81 |
| Free Cash Flow | 200.54 | 97.90 | 303.01 | 177.02 | -166.91 | 136.75 | 138.66 | 140.59 | 142.55 | 144.53 |
| WACC | ||||||||||
| PV LFCF | 126.33 | 118.33 | 110.83 | 103.81 | 97.23 | |||||
| SUM PV LFCF | 556.53 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.25 |
| Free cash flow (t + 1) | 147.42 |
| Terminal Value | 2,358.74 |
| Present Value of Terminal Value | 1,586.86 |
Intrinsic Value
| Enterprise Value | 2,143.40 |
|---|---|
| Net Debt | 706.59 |
| Equity Value | 1,436.81 |
| Shares Outstanding | 52.33 |
| Equity Value Per Share | 27.46 |