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
Stock DCF: -104.36 | 37.04 | 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 442476178568588834.531,184.431,681.032,385.843,386.17
Revenue (%)
Operating Cash Flow 10375-55625346.8866.5494.44134.04190.23
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 70-28-1362735-93.04-132.05-187.41-265.99-377.52

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 442476178568588834.531,184.431,681.032,385.843,386.17
Operating Cash Flow 10375-55625346.8866.5494.44134.04190.23
Capital Expenditure -33-103-81-35-18-139.92-198.59-281.85-400.03-567.75
Free Cash Flow 70-28-1362735-93.04-132.05-187.41-265.99-377.52
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