Discounted Cash Flow (DCF) Analysis Levered

Avaya Holdings Corp. (AVYA)

$0.2753

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -34.21 | 0.2753 | 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 2,8872,8872,8732,9731,170945.16763.54616.81498.28402.53
Revenue (%)
Operating Cash Flow 24124114730-312-7.27-5.87-4.74-3.83-3.10
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 12812849-76-420-52.70-42.58-34.39-27.78-22.45

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 2,8872,8872,8732,9731,170945.16763.54616.81498.28402.53
Operating Cash Flow 24124114730-312-7.27-5.87-4.74-3.83-3.10
Capital Expenditure -113-113-98-106-108-45.43-36.70-29.65-23.95-19.35
Free Cash Flow 12812849-76-420-52.70-42.58-34.39-27.78-22.45
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