Discounted Cash Flow (DCF) Analysis Levered
Aramark (ARMK)
$24.615
+0.29 (+1.21%)
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 | 15,789.63 | 16,227.34 | 12,829.56 | 12,095.96 | 16,326.62 | 16,779.33 | 17,244.59 | 17,722.75 | 18,214.18 | 18,719.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,047.35 | 984.23 | 176.68 | 657.08 | 694.50 | 797.41 | 819.52 | 842.24 | 865.59 | 889.60 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -618.11 | -485.22 | -364.43 | -375.34 | -364.76 | -506.15 | -520.19 | -534.61 | -549.43 | -564.67 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 429.24 | 499.01 | -187.75 | 281.73 | 329.74 | 291.26 | 299.33 | 307.63 | 316.16 | 324.93 |
Weighted Average Cost Of Capital
| Share price | $ 24.615 |
|---|---|
| Beta | 1.631 |
| Diluted Shares Outstanding | 259.07 |
| Cost of Debt | |
| Tax Rate | 23.92 |
| After-tax Cost of Debt | 3.73% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.430 |
| Total Debt | 7,785.39 |
| Total Equity | 6,377.11 |
| Total Capital | 14,162.49 |
| Debt Weighting | 54.97 |
| Equity Weighting | 45.03 |
| 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 | 15,789.63 | 16,227.34 | 12,829.56 | 12,095.96 | 16,326.62 | 16,779.33 | 17,244.59 | 17,722.75 | 18,214.18 | 18,719.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,047.35 | 984.23 | 176.68 | 657.08 | 694.50 | 797.41 | 819.52 | 842.24 | 865.59 | 889.60 |
| Capital Expenditure | -618.11 | -485.22 | -364.43 | -375.34 | -364.76 | -506.15 | -520.19 | -534.61 | -549.43 | -564.67 |
| Free Cash Flow | 429.24 | 499.01 | -187.75 | 281.73 | 329.74 | 291.26 | 299.33 | 307.63 | 316.16 | 324.93 |
| WACC | ||||||||||
| PV LFCF | 270.56 | 258.30 | 246.60 | 235.42 | 224.76 | |||||
| SUM PV LFCF | 1,235.64 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.65 |
| Free cash flow (t + 1) | 331.43 |
| Terminal Value | 5,865.95 |
| Present Value of Terminal Value | 4,057.59 |
Intrinsic Value
| Enterprise Value | 5,293.23 |
|---|---|
| Net Debt | 7,455.94 |
| Equity Value | -2,162.71 |
| Shares Outstanding | 259.07 |
| Equity Value Per Share | -8.35 |