Discounted Cash Flow (DCF) Analysis Levered
Black Knight, Inc. (BKI)
$75.775
+0.01 (+0.02%)
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 | 1,114 | 1,177.20 | 1,238.50 | 1,475.20 | 1,551.90 | 1,688.43 | 1,836.98 | 1,998.60 | 2,174.43 | 2,365.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 435.50 | 378.30 | 415.40 | 449.90 | 251.70 | 511.55 | 556.55 | 605.52 | 658.79 | 716.75 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -103.10 | -103.90 | -113.20 | -113.60 | -120.30 | -144.10 | -156.78 | -170.57 | -185.58 | -201.91 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 332.40 | 274.40 | 302.20 | 336.30 | 131.40 | 367.45 | 399.77 | 434.94 | 473.21 | 514.84 |
Weighted Average Cost Of Capital
| Share price | $ 75.775 |
|---|---|
| Beta | 0.513 |
| Diluted Shares Outstanding | 155.60 |
| Cost of Debt | |
| Tax Rate | 13.52 |
| After-tax Cost of Debt | 3.59% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.576 |
| Total Debt | 2,655.30 |
| Total Equity | 11,790.59 |
| Total Capital | 14,445.89 |
| Debt Weighting | 18.38 |
| Equity Weighting | 81.62 |
| 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 | 1,114 | 1,177.20 | 1,238.50 | 1,475.20 | 1,551.90 | 1,688.43 | 1,836.98 | 1,998.60 | 2,174.43 | 2,365.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 435.50 | 378.30 | 415.40 | 449.90 | 251.70 | 511.55 | 556.55 | 605.52 | 658.79 | 716.75 |
| Capital Expenditure | -103.10 | -103.90 | -113.20 | -113.60 | -120.30 | -144.10 | -156.78 | -170.57 | -185.58 | -201.91 |
| Free Cash Flow | 332.40 | 274.40 | 302.20 | 336.30 | 131.40 | 367.45 | 399.77 | 434.94 | 473.21 | 514.84 |
| WACC | ||||||||||
| PV LFCF | 346.55 | 355.60 | 364.88 | 374.40 | 384.18 | |||||
| SUM PV LFCF | 1,825.60 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.03 |
| Free cash flow (t + 1) | 525.14 |
| Terminal Value | 13,030.77 |
| Present Value of Terminal Value | 9,723.58 |
Intrinsic Value
| Enterprise Value | 11,549.18 |
|---|---|
| Net Debt | 2,643.10 |
| Equity Value | 8,906.08 |
| Shares Outstanding | 155.60 |
| Equity Value Per Share | 57.24 |