Discounted Cash Flow (DCF) Analysis Levered

Asia Pacific Wire & Cable Corporati... (APWC)

$1.345

-0.06 (-3.93%)
All numbers are in Millions, Currency in USD
Stock DCF: 3.41 | 1.345 | undervalue

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 425.94338.16313.56476.66433.89450.34467.40485.12503.50522.58
Revenue (%)
Operating Cash Flow 40.6515.1416.37-41.616.5710.8311.2411.6712.1112.57
Operating Cash Flow (%)
Capital Expenditure -4.51-5.46-14.60-8.55-3.81-9.01-9.35-9.70-10.07-10.45
Capital Expenditure (%)
Free Cash Flow 36.149.681.77-50.162.761.821.891.962.042.11

Weighted Average Cost Of Capital

Share price $ 1.345
Beta 0.597
Diluted Shares Outstanding 20.02
Cost of Debt
Tax Rate 48.79
After-tax Cost of Debt 2.19%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.103
Total Debt 60.30
Total Equity 26.93
Total Capital 87.23
Debt Weighting 69.13
Equity Weighting 30.87
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 425.94338.16313.56476.66433.89450.34467.40485.12503.50522.58
Operating Cash Flow 40.6515.1416.37-41.616.5710.8311.2411.6712.1112.57
Capital Expenditure -4.51-5.46-14.60-8.55-3.81-9.01-9.35-9.70-10.07-10.45
Free Cash Flow 36.149.681.77-50.162.761.821.891.962.042.11
WACC
PV LFCF 1.761.761.761.761.76
SUM PV LFCF 8.80

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.71
Free cash flow (t + 1) 2.14
Terminal Value 78.82
Present Value of Terminal Value 65.70

Intrinsic Value

Enterprise Value 74.50
Net Debt 6.29
Equity Value 68.21
Shares Outstanding 20.02
Equity Value Per Share 3.41