Discounted Cash Flow (DCF) Analysis Levered
The Liberty Braves Group (BATRK)
$37.04
+0.01 (+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 | 442 | 476 | 178 | 568 | 588 | 834.53 | 1,184.43 | 1,681.03 | 2,385.84 | 3,386.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 103 | 75 | -55 | 62 | 53 | 46.88 | 66.54 | 94.44 | 134.04 | 190.23 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -33 | -103 | -81 | -35 | -18 | -139.92 | -198.59 | -281.85 | -400.03 | -567.75 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 70 | -28 | -136 | 27 | 35 | -93.04 | -132.05 | -187.41 | -265.99 | -377.52 |
Weighted Average Cost Of Capital
| Share price | $ 37.04 |
|---|---|
| Beta | 0.919 |
| Diluted Shares Outstanding | 53 |
| Cost of Debt | |
| Tax Rate | -29.63 |
| After-tax Cost of Debt | 5.35% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.774 |
| Total Debt | 542 |
| Total Equity | 1,963.12 |
| Total Capital | 2,505.12 |
| Debt Weighting | 21.64 |
| Equity Weighting | 78.36 |
| 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 | 442 | 476 | 178 | 568 | 588 | 834.53 | 1,184.43 | 1,681.03 | 2,385.84 | 3,386.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 103 | 75 | -55 | 62 | 53 | 46.88 | 66.54 | 94.44 | 134.04 | 190.23 |
| Capital Expenditure | -33 | -103 | -81 | -35 | -18 | -139.92 | -198.59 | -281.85 | -400.03 | -567.75 |
| Free Cash Flow | 70 | -28 | -136 | 27 | 35 | -93.04 | -132.05 | -187.41 | -265.99 | -377.52 |
| WACC | ||||||||||
| PV LFCF | -86.12 | -113.15 | -148.65 | -195.30 | -256.57 | |||||
| SUM PV LFCF | -799.79 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.03 |
| Free cash flow (t + 1) | -385.07 |
| Terminal Value | -6,385.84 |
| Present Value of Terminal Value | -4,340.06 |
Intrinsic Value
| Enterprise Value | -5,139.86 |
|---|---|
| Net Debt | 391 |
| Equity Value | -5,530.86 |
| Shares Outstanding | 53 |
| Equity Value Per Share | -104.36 |