Discounted Cash Flow (DCF) Analysis Levered
Beyond Meat, Inc. (BYND)
$19.42
-0.80 (-3.96%)
All numbers are in Millions, Currency in USD
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 | 32.58 | 87.93 | 297.90 | 406.78 | 464.70 | 998.47 | 2,145.36 | 4,609.61 | 9,904.40 | 21,280.99 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -25.27 | -37.72 | -47 | -39.99 | -301.37 | -421.21 | -905.03 | -1,944.58 | -4,178.21 | -8,977.47 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -7.91 | -23.25 | -25.92 | -59.98 | -135.96 | -206.52 | -443.73 | -953.42 | -2,048.55 | -4,401.59 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -33.18 | -60.97 | -72.91 | -99.98 | -437.33 | -627.73 | -1,348.76 | -2,898 | -6,226.75 | -13,379.06 |
Weighted Average Cost Of Capital
| Share price | $ 19.42 |
|---|---|
| Beta | 1.981 |
| Diluted Shares Outstanding | 63.17 |
| Cost of Debt | |
| Tax Rate | -1.70 |
| After-tax Cost of Debt | 0.32% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.883 |
| Total Debt | 1,157.36 |
| Total Equity | 1,226.81 |
| Total Capital | 2,384.16 |
| Debt Weighting | 48.54 |
| Equity Weighting | 51.46 |
| 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 | 32.58 | 87.93 | 297.90 | 406.78 | 464.70 | 998.47 | 2,145.36 | 4,609.61 | 9,904.40 | 21,280.99 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -25.27 | -37.72 | -47 | -39.99 | -301.37 | -421.21 | -905.03 | -1,944.58 | -4,178.21 | -8,977.47 |
| Capital Expenditure | -7.91 | -23.25 | -25.92 | -59.98 | -135.96 | -206.52 | -443.73 | -953.42 | -2,048.55 | -4,401.59 |
| Free Cash Flow | -33.18 | -60.97 | -72.91 | -99.98 | -437.33 | -627.73 | -1,348.76 | -2,898 | -6,226.75 | -13,379.06 |
| WACC | ||||||||||
| PV LFCF | -587.87 | -1,182.92 | -2,380.28 | -4,789.63 | -9,637.76 | |||||
| SUM PV LFCF | -18,578.46 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.78 |
| Free cash flow (t + 1) | -13,646.64 |
| Terminal Value | -285,494.60 |
| Present Value of Terminal Value | -205,659.28 |
Intrinsic Value
| Enterprise Value | -224,237.74 |
|---|---|
| Net Debt | 424.06 |
| Equity Value | -224,661.80 |
| Shares Outstanding | 63.17 |
| Equity Value Per Share | -3,556.33 |