Discounted Cash Flow (DCF) Analysis Levered
Big Lots, Inc. (BIG)
$6.65
-0.41 (-5.81%)
All numbers are in Millions, Currency in USD
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 | 5,238.10 | 5,323.18 | 6,199.19 | 6,150.60 | 5,468.33 | 5,553.14 | 5,639.27 | 5,726.74 | 5,815.56 | 5,905.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 234.06 | 338.97 | 399.35 | 193.76 | -144.29 | 197.58 | 200.64 | 203.76 | 206.92 | 210.13 |
| 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 | -142.96 | 73.77 | 264.13 | 32.96 | -303.70 | -23.33 | -23.69 | -24.06 | -24.43 | -24.81 |
Weighted Average Cost Of Capital
| Share price | $ 6.65 |
|---|---|
| Beta | 1.962 |
| 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 | 13.006 |
| Total Debt | 2,067.73 |
| Total Equity | 221.81 |
| Total Capital | 2,289.54 |
| Debt Weighting | 90.31 |
| Equity Weighting | 9.69 |
| 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 | 5,238.10 | 5,323.18 | 6,199.19 | 6,150.60 | 5,468.33 | 5,553.14 | 5,639.27 | 5,726.74 | 5,815.56 | 5,905.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 234.06 | 338.97 | 399.35 | 193.76 | -144.29 | 197.58 | 200.64 | 203.76 | 206.92 | 210.13 |
| 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 | -142.96 | 73.77 | 264.13 | 32.96 | -303.70 | -23.33 | -23.69 | -24.06 | -24.43 | -24.81 |
| WACC | ||||||||||
| PV LFCF | -22.89 | -22.80 | -22.72 | -22.64 | -22.55 | |||||
| SUM PV LFCF | -113.60 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 1.93 |
| Free cash flow (t + 1) | -25.31 |
| Terminal Value | 36,156.45 |
| Present Value of Terminal Value | 32,860.61 |
Intrinsic Value
| Enterprise Value | 32,747.01 |
|---|---|
| Net Debt | 2,023 |
| Equity Value | 30,724.01 |
| Shares Outstanding | 33.35 |
| Equity Value Per Share | 921.12 |