Discounted Cash Flow (DCF) Analysis Levered
ATI Inc. (ATI)
$37.5
+1.34 (+3.71%)
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 | 4,046.60 | 4,122.50 | 2,982.10 | 2,799.80 | 3,836 | 3,885 | 3,934.63 | 3,984.89 | 4,035.79 | 4,087.34 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 392.80 | 230.10 | 166.90 | 16.10 | 224.90 | 212.30 | 215.01 | 217.76 | 220.54 | 223.36 |
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 | 253.60 | 61.90 | 30.40 | -136.50 | 224 | 75.77 | 76.74 | 77.72 | 78.71 | 79.72 |
Weighted Average Cost Of Capital
Share price | $ 37.5 |
---|---|
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 | 9.218 |
Total Debt | 1,748 |
Total Equity | 4,743.75 |
Total Capital | 6,491.75 |
Debt Weighting | 26.93 |
Equity Weighting | 73.07 |
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 | 4,046.60 | 4,122.50 | 2,982.10 | 2,799.80 | 3,836 | 3,885 | 3,934.63 | 3,984.89 | 4,035.79 | 4,087.34 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 392.80 | 230.10 | 166.90 | 16.10 | 224.90 | 212.30 | 215.01 | 217.76 | 220.54 | 223.36 |
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 | 253.60 | 61.90 | 30.40 | -136.50 | 224 | 75.77 | 76.74 | 77.72 | 78.71 | 79.72 |
WACC | ||||||||||
PV LFCF | 70.28 | 66.01 | 62.01 | 58.24 | 54.71 | |||||
SUM PV LFCF | 311.25 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.82 |
Free cash flow (t + 1) | 81.31 |
Terminal Value | 1,397.14 |
Present Value of Terminal Value | 958.84 |
Intrinsic Value
Enterprise Value | 1,270.09 |
---|---|
Net Debt | 1,164 |
Equity Value | 106.09 |
Shares Outstanding | 126.50 |
Equity Value Per Share | 0.84 |