Discounted Cash Flow (DCF) Analysis Levered
American Vanguard Corporation (AVD)
$10.93
+0.06 (+0.55%)
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 | 454.27 | 468.19 | 458.70 | 556.87 | 609.62 | 658.25 | 710.76 | 767.46 | 828.68 | 894.79 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 11.35 | 9.40 | 89.20 | 87.32 | 57.11 | 64.51 | 69.65 | 75.21 | 81.21 | 87.69 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -27.70 | -12.98 | -11.25 | -10.04 | -14.55 | -20.42 | -22.05 | -23.81 | -25.71 | -27.76 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -16.35 | -3.58 | 77.95 | 77.28 | 42.55 | 44.08 | 47.60 | 51.40 | 55.50 | 59.93 |
Weighted Average Cost Of Capital
Share price | $ 10.93 |
---|---|
Beta | 0.984 |
Diluted Shares Outstanding | 29.87 |
Cost of Debt | |
Tax Rate | 23.80 |
After-tax Cost of Debt | 3.95% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.216 |
Total Debt | 76.25 |
Total Equity | 326.50 |
Total Capital | 402.75 |
Debt Weighting | 18.93 |
Equity Weighting | 81.07 |
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 | 454.27 | 468.19 | 458.70 | 556.87 | 609.62 | 658.25 | 710.76 | 767.46 | 828.68 | 894.79 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 11.35 | 9.40 | 89.20 | 87.32 | 57.11 | 64.51 | 69.65 | 75.21 | 81.21 | 87.69 |
Capital Expenditure | -27.70 | -12.98 | -11.25 | -10.04 | -14.55 | -20.42 | -22.05 | -23.81 | -25.71 | -27.76 |
Free Cash Flow | -16.35 | -3.58 | 77.95 | 77.28 | 42.55 | 44.08 | 47.60 | 51.40 | 55.50 | 59.93 |
WACC | ||||||||||
PV LFCF | 40.73 | 40.64 | 40.55 | 40.46 | 40.37 | |||||
SUM PV LFCF | 202.76 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.22 |
Free cash flow (t + 1) | 61.12 |
Terminal Value | 982.69 |
Present Value of Terminal Value | 662.03 |
Intrinsic Value
Enterprise Value | 864.80 |
---|---|
Net Debt | 55.92 |
Equity Value | 808.88 |
Shares Outstanding | 29.87 |
Equity Value Per Share | 27.08 |