Discounted Cash Flow (DCF) Analysis Levered

AdvanSix Inc. (ASIX)

$40.46

+0.11 (+0.27%)
All numbers are in Millions, Currency in USD
Stock DCF: 21.62 | 40.46 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,475.191,514.981,297.391,157.921,684.621,781.791,884.571,993.272,108.242,229.84
Revenue (%)
Operating Cash Flow 134.61173.38120.39111.85218.85187.08197.87209.29221.36234.13
Operating Cash Flow (%)
Capital Expenditure -86.44-109.21-150.32-82.92-56.81-125.40-132.63-140.28-148.37-156.93
Capital Expenditure (%)
Free Cash Flow 48.1764.17-29.9428.93162.0461.6965.2569.0172.9977.20

Weighted Average Cost Of Capital

Share price $ 40.46
Beta 1.811
Diluted Shares Outstanding 28.16
Cost of Debt
Tax Rate 24.48
After-tax Cost of Debt 1.40%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.117
Total Debt 271.71
Total Equity 1,139.23
Total Capital 1,410.94
Debt Weighting 19.26
Equity Weighting 80.74
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,475.191,514.981,297.391,157.921,684.621,781.791,884.571,993.272,108.242,229.84
Operating Cash Flow 134.61173.38120.39111.85218.85187.08197.87209.29221.36234.13
Capital Expenditure -86.44-109.21-150.32-82.92-56.81-125.40-132.63-140.28-148.37-156.93
Free Cash Flow 48.1764.17-29.9428.93162.0461.6965.2569.0172.9977.20
WACC
PV LFCF 56.0553.8751.7849.7647.83
SUM PV LFCF 259.29

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.05
Free cash flow (t + 1) 78.74
Terminal Value 978.18
Present Value of Terminal Value 605.99

Intrinsic Value

Enterprise Value 865.28
Net Debt 256.61
Equity Value 608.68
Shares Outstanding 28.16
Equity Value Per Share 21.62