Discounted Cash Flow (DCF) Analysis Levered

The Beachbody Company, Inc. (BODY)

$0.7711

+0.01 (+1.46%)
All numbers are in Millions, Currency in USD
Stock DCF: -19.86 | 0.7711 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 755.78863.58873.65941.041,013.641,091.841,176.071,266.80
Revenue (%)
Operating Cash Flow 42.0261.43-215.25-37.53-40.43-43.55-46.91-50.52
Operating Cash Flow (%)
Capital Expenditure -23.81-37.93-77.91-51.63-55.62-59.91-64.53-69.51
Capital Expenditure (%)
Free Cash Flow 18.2123.50-293.16-89.17-96.05-103.46-111.44-120.03

Weighted Average Cost Of Capital

Share price $ 0.7,711
Beta 0.000
Diluted Shares Outstanding 304.43
Cost of Debt
Tax Rate 6.37
After-tax Cost of Debt 7.04%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.691
Total Debt 7.13
Total Equity 234.74
Total Capital 241.87
Debt Weighting 2.95
Equity Weighting 97.05
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 755.78863.58873.65941.041,013.641,091.841,176.071,266.80
Operating Cash Flow 42.0261.43-215.25-37.53-40.43-43.55-46.91-50.52
Capital Expenditure -23.81-37.93-77.91-51.63-55.62-59.91-64.53-69.51
Free Cash Flow 18.2123.50-293.16-89.17-96.05-103.46-111.44-120.03
WACC
PV LFCF -92.55-96.05-99.68-103.45-107.36
SUM PV LFCF -463.29

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.79
Free cash flow (t + 1) -122.43
Terminal Value -6,839.89
Present Value of Terminal Value -5,679

Intrinsic Value

Enterprise Value -6,142.29
Net Debt -96.92
Equity Value -6,045.36
Shares Outstanding 304.43
Equity Value Per Share -19.86