Discounted Cash Flow (DCF) Analysis Levered
Avaya Holdings Corp. (AVYA)
$0.2753
0.00 (0.00%)
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 | 2,887 | 2,887 | 2,873 | 2,973 | 1,170 | 945.16 | 763.54 | 616.81 | 498.28 | 402.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 241 | 241 | 147 | 30 | -312 | -7.27 | -5.87 | -4.74 | -3.83 | -3.10 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -113 | -113 | -98 | -106 | -108 | -45.43 | -36.70 | -29.65 | -23.95 | -19.35 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 128 | 128 | 49 | -76 | -420 | -52.70 | -42.58 | -34.39 | -27.78 | -22.45 |
Weighted Average Cost Of Capital
| Share price | $ 0.2,753 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 86 |
| Cost of Debt | |
| Tax Rate | -2.29 |
| After-tax Cost of Debt | -6.68% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.573 |
| Total Debt | 3,354 |
| Total Equity | 23.68 |
| Total Capital | 3,377.68 |
| Debt Weighting | 99.30 |
| Equity Weighting | 0.70 |
| 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 | 2,887 | 2,887 | 2,873 | 2,973 | 1,170 | 945.16 | 763.54 | 616.81 | 498.28 | 402.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 241 | 241 | 147 | 30 | -312 | -7.27 | -5.87 | -4.74 | -3.83 | -3.10 |
| Capital Expenditure | -113 | -113 | -98 | -106 | -108 | -45.43 | -36.70 | -29.65 | -23.95 | -19.35 |
| Free Cash Flow | 128 | 128 | 49 | -76 | -420 | -52.70 | -42.58 | -34.39 | -27.78 | -22.45 |
| WACC | ||||||||||
| PV LFCF | -69.26 | -59.90 | -51.81 | -44.81 | -38.76 | |||||
| SUM PV LFCF | -215.54 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | -6.60 |
| Free cash flow (t + 1) | -22.89 |
| Terminal Value | 266.22 |
| Present Value of Terminal Value | 374.54 |
Intrinsic Value
| Enterprise Value | 159 |
|---|---|
| Net Debt | 3,101 |
| Equity Value | -2,942 |
| Shares Outstanding | 86 |
| Equity Value Per Share | -34.21 |