Discounted Cash Flow (DCF) Analysis Levered

Bloomin' Brands, Inc. (BLMN)

$21.24

-0.77 (-3.50%)
All numbers are in Millions, Currency in USD
Stock DCF: 9.19 | 21.24 | 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 4,213.354,126.414,139.393,170.564,122.384,172.544,223.314,274.694,326.704,379.35
Revenue (%)
Operating Cash Flow 409288.07317.60138.85402.46321.31325.22329.18333.18337.24
Operating Cash Flow (%)
Capital Expenditure -260.59-208.22-161.93-87.84-122.83-174.35-176.47-178.62-180.80-182.99
Capital Expenditure (%)
Free Cash Flow 148.4179.85155.6851.01279.63146.96148.75150.56152.39154.24

Weighted Average Cost Of Capital

Share price $ 21.24
Beta 1.886
Diluted Shares Outstanding 87.47
Cost of Debt
Tax Rate 13.53
After-tax Cost of Debt 2.52%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.410
Total Debt 1,972.51
Total Equity 1,857.82
Total Capital 3,830.33
Debt Weighting 51.50
Equity Weighting 48.50
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 4,213.354,126.414,139.393,170.564,122.384,172.544,223.314,274.694,326.704,379.35
Operating Cash Flow 409288.07317.60138.85402.46321.31325.22329.18333.18337.24
Capital Expenditure -260.59-208.22-161.93-87.84-122.83-174.35-176.47-178.62-180.80-182.99
Free Cash Flow 148.4179.85155.6851.01279.63146.96148.75150.56152.39154.24
WACC
PV LFCF 136.94129.15121.80114.88108.34
SUM PV LFCF 611.11

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.32
Free cash flow (t + 1) 157.33
Terminal Value 2,957.29
Present Value of Terminal Value 2,077.26

Intrinsic Value

Enterprise Value 2,688.36
Net Debt 1,884.93
Equity Value 803.44
Shares Outstanding 87.47
Equity Value Per Share 9.19