Discounted Cash Flow (DCF) Analysis Levered
Abercrombie & Fitch Co. (ANF)
$22.55
+0.70 (+3.20%)
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 | 3,492.69 | 3,590.11 | 3,623.07 | 3,125.38 | 3,712.77 | 3,794.12 | 3,877.26 | 3,962.22 | 4,049.04 | 4,137.76 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 285.70 | 352.93 | 300.68 | 404.92 | 277.78 | 354.73 | 362.50 | 370.45 | 378.56 | 386.86 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -107 | -152.39 | -202.78 | -101.91 | -96.98 | -142.49 | -145.62 | -148.81 | -152.07 | -155.40 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 178.70 | 200.54 | 97.90 | 303.01 | 180.80 | 212.24 | 216.89 | 221.64 | 226.50 | 231.46 |
Weighted Average Cost Of Capital
Share price | $ 22.55 |
---|---|
Beta | 1.417 |
Diluted Shares Outstanding | 62.55 |
Cost of Debt | |
Tax Rate | 14.88 |
After-tax Cost of Debt | 2.64% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.433 |
Total Debt | 1,223.66 |
Total Equity | 1,410.53 |
Total Capital | 2,634.19 |
Debt Weighting | 46.45 |
Equity Weighting | 53.55 |
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 | 3,492.69 | 3,590.11 | 3,623.07 | 3,125.38 | 3,712.77 | 3,794.12 | 3,877.26 | 3,962.22 | 4,049.04 | 4,137.76 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 285.70 | 352.93 | 300.68 | 404.92 | 277.78 | 354.73 | 362.50 | 370.45 | 378.56 | 386.86 |
Capital Expenditure | -107 | -152.39 | -202.78 | -101.91 | -96.98 | -142.49 | -145.62 | -148.81 | -152.07 | -155.40 |
Free Cash Flow | 178.70 | 200.54 | 97.90 | 303.01 | 180.80 | 212.24 | 216.89 | 221.64 | 226.50 | 231.46 |
WACC | ||||||||||
PV LFCF | 199.70 | 192.01 | 184.63 | 177.52 | 170.69 | |||||
SUM PV LFCF | 924.56 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.28 |
Free cash flow (t + 1) | 236.09 |
Terminal Value | 5,516.12 |
Present Value of Terminal Value | 4,067.96 |
Intrinsic Value
Enterprise Value | 4,992.52 |
---|---|
Net Debt | 400.52 |
Equity Value | 4,591.99 |
Shares Outstanding | 62.55 |
Equity Value Per Share | 73.41 |