Discounted Cash Flow (DCF) Analysis Levered

BGSF, Inc. (BGSF)

$12.95

-0.09 (-0.69%)

All numbers are in Millions, Currency in USD

Stock DCF: 8.28 | 12.95 | overvalue

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	272.60	286.86	294.31	277.89	239.03	232.01	225.21	218.60	212.19	205.96
Revenue (%)
Operating Cash Flow	18.06	18.43	17.95	22.26	6.66	13.90	13.49	13.09	12.71	12.34
Operating Cash Flow (%)
Capital Expenditure	-1.15	-0.92	-2.23	-2.14	-3.20	-1.68	-1.63	-1.58	-1.53	-1.49
Capital Expenditure (%)
Free Cash Flow	16.92	17.50	15.72	20.11	3.46	12.22	11.86	11.51	11.18	10.85

Weighted Average Cost Of Capital

Share price	$ 12.95
Beta	1.982
Diluted Shares Outstanding	10.42
Cost of Debt
Tax Rate	-7.73
After-tax Cost of Debt	3.25%
Risk-Free Rate
Market Risk Premium
Cost of Equity	12.180
Total Debt	44.03
Total Equity	134.90
Total Capital	178.93
Debt Weighting	24.61
Equity Weighting	75.39
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	272.60	286.86	294.31	277.89	239.03	232.01	225.21	218.60	212.19	205.96
Operating Cash Flow	18.06	18.43	17.95	22.26	6.66	13.90	13.49	13.09	12.71	12.34
Capital Expenditure	-1.15	-0.92	-2.23	-2.14	-3.20	-1.68	-1.63	-1.58	-1.53	-1.49
Free Cash Flow	16.92	17.50	15.72	20.11	3.46	12.22	11.86	11.51	11.18	10.85
WACC
PV LFCF						11.11	9.81	8.66	7.64	6.74
SUM PV LFCF										43.95

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	9.98
Free cash flow (t + 1)	11.06
Terminal Value	138.66
Present Value of Terminal Value	86.17

Intrinsic Value

Enterprise Value	130.13
Net Debt	43.92
Equity Value	86.21
Shares Outstanding	10.42
Equity Value Per Share	8.28