Discounted Cash Flow (DCF) Analysis Levered

Bassett Furniture Industries, Incor... (BSET)

$16.05

-0.35 (-2.13%)
All numbers are in Millions, Currency in USD
Stock DCF: 26.31 | 16.05 | undervalue

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 452.50456.86452.09385.86486.53500.35514.56529.17544.20559.66
Revenue (%)
Operating Cash Flow 36.3828.709.8136.6814.5629.0129.8330.6831.5532.45
Operating Cash Flow (%)
Capital Expenditure -15.50-18.30-17.38-6.03-10.75-15.06-15.48-15.92-16.38-16.84
Capital Expenditure (%)
Free Cash Flow 20.8810.40-7.5730.653.8113.9514.3514.7615.1815.61

Weighted Average Cost Of Capital

Share price $ 16.05
Beta 1.489
Diluted Shares Outstanding 9.92
Cost of Debt
Tax Rate 25.57
After-tax Cost of Debt 0.18%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.856
Total Debt 133.53
Total Equity 159.29
Total Capital 292.83
Debt Weighting 45.60
Equity Weighting 54.40
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 452.50456.86452.09385.86486.53500.35514.56529.17544.20559.66
Operating Cash Flow 36.3828.709.8136.6814.5629.0129.8330.6831.5532.45
Capital Expenditure -15.50-18.30-17.38-6.03-10.75-15.06-15.48-15.92-16.38-16.84
Free Cash Flow 20.8810.40-7.5730.653.8113.9514.3514.7615.1815.61
WACC
PV LFCF 13.1612.7712.3912.0311.67
SUM PV LFCF 62.02

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.99
Free cash flow (t + 1) 15.92
Terminal Value 398.97
Present Value of Terminal Value 298.28

Intrinsic Value

Enterprise Value 360.30
Net Debt 99.16
Equity Value 261.14
Shares Outstanding 9.92
Equity Value Per Share 26.31