Discounted Cash Flow (DCF) Analysis Levered

Big Lots, Inc. (BIG)

$4.83

-0.10 (-2.03%)
All numbers are in Millions, Currency in USD
Stock DCF: 251.71 | 4.83 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 5,238.105,323.186,199.196,150.605,468.335,553.145,639.275,726.745,815.565,905.77
Revenue (%)
Operating Cash Flow 234.06338.97399.35193.76-144.29197.58200.64203.76206.92210.13
Operating Cash Flow (%)
Capital Expenditure -377.02-265.20-135.22-160.80-159.41-220.91-224.34-227.82-231.35-234.94
Capital Expenditure (%)
Free Cash Flow -142.9673.77264.1332.96-303.70-23.33-23.69-24.06-24.43-24.81

Weighted Average Cost Of Capital

Share price $ 4.83
Beta 2.267
Diluted Shares Outstanding 33.35
Cost of Debt
Tax Rate 24.86
After-tax Cost of Debt 0.74%
Risk-Free Rate
Market Risk Premium
Cost of Equity 15.244
Total Debt 2,067.73
Total Equity 161.10
Total Capital 2,228.83
Debt Weighting 92.77
Equity Weighting 7.23
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 5,238.105,323.186,199.196,150.605,468.335,553.145,639.275,726.745,815.565,905.77
Operating Cash Flow 234.06338.97399.35193.76-144.29197.58200.64203.76206.92210.13
Capital Expenditure -377.02-265.20-135.22-160.80-159.41-220.91-224.34-227.82-231.35-234.94
Free Cash Flow -142.9673.77264.1332.96-303.70-23.33-23.69-24.06-24.43-24.81
WACC
PV LFCF -22.92-22.87-22.82-22.77-22.72
SUM PV LFCF -114.10

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.78
Free cash flow (t + 1) -25.31
Terminal Value 11,504.33
Present Value of Terminal Value 10,532.92

Intrinsic Value

Enterprise Value 10,418.82
Net Debt 2,023
Equity Value 8,395.82
Shares Outstanding 33.35
Equity Value Per Share 251.71