Discounted Cash Flow (DCF) Analysis Levered

Alteryx, Inc. (AYX)

$62.98

+0.45 (+0.72%)

All numbers are in Millions, Currency in USD

Stock DCF: 77.90 | 62.98 | undervalue

Free Cash Flow

Year A/P	2017 Actual	2018 Actual	2019 Actual	2020 Actual	2021 Actual	2022 Projected	2023 Projected	2024 Projected	2025 Projected	2026 Projected
Revenue	131.61	253.57	417.91	495.31	536.14	783.09	1,143.79	1,670.63	2,440.15	3,564.11
Revenue (%)
Operating Cash Flow	18.94	26.09	34.19	74.78	63.16	93.57	136.67	199.62	291.56	425.86
Operating Cash Flow (%)
Capital Expenditure	-3.67	-6.73	-11.45	-26.36	-32.77	-30.72	-44.87	-65.54	-95.73	-139.82
Capital Expenditure (%)
Free Cash Flow	15.27	19.36	22.74	48.42	30.39	62.85	91.79	134.08	195.83	286.04

Weighted Average Cost Of Capital

Share price	$ 62.98
Beta	0.781
Diluted Shares Outstanding	66.06
Cost of Debt
Tax Rate	-1.21
After-tax Cost of Debt	4.66%
Risk-Free Rate
Market Risk Premium
Cost of Equity	6.450
Total Debt	842.20
Total Equity	4,160.33
Total Capital	5,002.53
Debt Weighting	16.84
Equity Weighting	83.16
Wacc

Build Up Free Cash Flow

Year A/P	2017 Actual	2018 Actual	2019 Actual	2020 Actual	2021 Actual	2022 Projected	2023 Projected	2024 Projected	2025 Projected	2026 Projected
Revenue	131.61	253.57	417.91	495.31	536.14	783.09	1,143.79	1,670.63	2,440.15	3,564.11
Operating Cash Flow	18.94	26.09	34.19	74.78	63.16	93.57	136.67	199.62	291.56	425.86
Capital Expenditure	-3.67	-6.73	-11.45	-26.36	-32.77	-30.72	-44.87	-65.54	-95.73	-139.82
Free Cash Flow	15.27	19.36	22.74	48.42	30.39	62.85	91.79	134.08	195.83	286.04
WACC
PV LFCF						59.21	81.47	112.10	154.24	212.24
SUM PV LFCF										619.25

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	6.15
Free cash flow (t + 1)	291.76
Terminal Value	7,030.30
Present Value of Terminal Value	5,216.44

Intrinsic Value

Enterprise Value	5,835.69
Net Debt	689.83
Equity Value	5,145.86
Shares Outstanding	66.06
Equity Value Per Share	77.90