Discounted Cash Flow (DCF) Analysis Levered
American Vanguard Corporation (AVD)
$17.87
+0.83 (+4.87%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 468.19 | 458.70 | 556.87 | 609.62 | 668.23 | 732.49 | 802.92 | 880.13 | 964.76 | 1,057.53 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 9.40 | 89.20 | 86.36 | 57.11 | 77.40 | 84.84 | 93 | 101.94 | 111.74 | 122.49 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -12.98 | -15.26 | -10.04 | -14.55 | -17.19 | -18.85 | -20.66 | -22.64 | -24.82 | -27.21 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -3.58 | 73.93 | 76.32 | 42.55 | 60.20 | 65.99 | 72.34 | 79.30 | 86.92 | 95.28 |
Weighted Average Cost Of Capital
Share price | $ 17.87 |
---|---|
Beta | 0.934 |
Diluted Shares Outstanding | 29.87 |
Cost of Debt | |
Tax Rate | 23.80 |
After-tax Cost of Debt | 3.81% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.150 |
Total Debt | 121.98 |
Total Equity | 533.81 |
Total Capital | 655.79 |
Debt Weighting | 18.60 |
Equity Weighting | 81.40 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 468.19 | 458.70 | 556.87 | 609.62 | 668.23 | 732.49 | 802.92 | 880.13 | 964.76 | 1,057.53 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 9.40 | 89.20 | 86.36 | 57.11 | 77.40 | 84.84 | 93 | 101.94 | 111.74 | 122.49 |
Capital Expenditure | -12.98 | -15.26 | -10.04 | -14.55 | -17.19 | -18.85 | -20.66 | -22.64 | -24.82 | -27.21 |
Free Cash Flow | -3.58 | 73.93 | 76.32 | 42.55 | 60.20 | 65.99 | 72.34 | 79.30 | 86.92 | 95.28 |
WACC | ||||||||||
PV LFCF | 60.20 | 61.48 | 62.78 | 64.12 | 65.47 | 66.86 | ||||
SUM PV LFCF | 320.72 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.34 |
Free cash flow (t + 1) | 97.18 |
Terminal Value | 1,819.93 |
Present Value of Terminal Value | 1,277.16 |
Intrinsic Value
Enterprise Value | 1,597.88 |
---|---|
Net Debt | 102.41 |
Equity Value | 1,495.47 |
Shares Outstanding | 29.87 |
Equity Value Per Share | 50.06 |