Discounted Cash Flow (DCF) Analysis Levered

ATI Inc. (ATI)

$37.73

-0.03 (-0.08%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.94 | 37.73 | overvalue

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 4,046.604,122.502,982.102,799.803,8363,8853,934.633,984.894,035.794,087.34
Revenue (%)
Operating Cash Flow 392.80230.10166.9016.10224.90212.30215.01217.76220.54223.36
Operating Cash Flow (%)
Capital Expenditure -139.20-168.20-136.50-152.60-0.90-136.53-138.27-140.04-141.83-143.64
Capital Expenditure (%)
Free Cash Flow 253.6061.9030.40-136.5022475.7776.7477.7278.7179.72

Weighted Average Cost Of Capital

Share price $ 37.73
Beta 1.215
Diluted Shares Outstanding 126.50
Cost of Debt
Tax Rate 19.20
After-tax Cost of Debt 4.04%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.117
Total Debt 1,748
Total Equity 4,772.85
Total Capital 6,520.85
Debt Weighting 26.81
Equity Weighting 73.19
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 4,046.604,122.502,982.102,799.803,8363,8853,934.633,984.894,035.794,087.34
Operating Cash Flow 392.80230.10166.9016.10224.90212.30215.01217.76220.54223.36
Capital Expenditure -139.20-168.20-136.50-152.60-0.90-136.53-138.27-140.04-141.83-143.64
Free Cash Flow 253.6061.9030.40-136.5022475.7776.7477.7278.7179.72
WACC
PV LFCF 70.3266.0962.1158.3754.86
SUM PV LFCF 311.75

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.76
Free cash flow (t + 1) 81.31
Terminal Value 1,411.70
Present Value of Terminal Value 971.52

Intrinsic Value

Enterprise Value 1,283.27
Net Debt 1,164
Equity Value 119.27
Shares Outstanding 126.50
Equity Value Per Share 0.94