Discounted Cash Flow (DCF) Analysis Levered
Beyond Meat, Inc. (BYND)
$10.63
+0.46 (+4.52%)
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 | 87.93 | 297.90 | 406.78 | 464.70 | 418.93 | 711.89 | 1,209.70 | 2,055.62 | 3,493.09 | 5,935.76 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -37.72 | -47 | -39.99 | -301.37 | -320.24 | -298.71 | -507.59 | -862.54 | -1,465.70 | -2,490.64 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -23.25 | -25.92 | -59.98 | -135.96 | -73.30 | -137.59 | -233.81 | -397.31 | -675.15 | -1,147.27 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -60.97 | -72.91 | -99.98 | -437.33 | -393.54 | -436.30 | -741.40 | -1,259.85 | -2,140.85 | -3,637.91 |
Weighted Average Cost Of Capital
| Share price | $ 10.63 |
|---|---|
| Beta | 2.002 |
| Diluted Shares Outstanding | 63.62 |
| Cost of Debt | |
| Tax Rate | -5.47 |
| After-tax Cost of Debt | 0.33% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 13.139 |
| Total Debt | 1,193.74 |
| Total Equity | 676.31 |
| Total Capital | 1,870.05 |
| Debt Weighting | 63.83 |
| Equity Weighting | 36.17 |
| 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 | 87.93 | 297.90 | 406.78 | 464.70 | 418.93 | 711.89 | 1,209.70 | 2,055.62 | 3,493.09 | 5,935.76 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -37.72 | -47 | -39.99 | -301.37 | -320.24 | -298.71 | -507.59 | -862.54 | -1,465.70 | -2,490.64 |
| Capital Expenditure | -23.25 | -25.92 | -59.98 | -135.96 | -73.30 | -137.59 | -233.81 | -397.31 | -675.15 | -1,147.27 |
| Free Cash Flow | -60.97 | -72.91 | -99.98 | -437.33 | -393.54 | -436.30 | -741.40 | -1,259.85 | -2,140.85 | -3,637.91 |
| WACC | ||||||||||
| PV LFCF | -415.68 | -672.98 | -1,089.55 | -1,763.97 | -2,855.83 | |||||
| SUM PV LFCF | -6,798.02 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.96 |
| Free cash flow (t + 1) | -3,710.67 |
| Terminal Value | -125,360.34 |
| Present Value of Terminal Value | -98,410.41 |
Intrinsic Value
| Enterprise Value | -105,208.43 |
|---|---|
| Net Debt | 883.82 |
| Equity Value | -106,092.25 |
| Shares Outstanding | 63.62 |
| Equity Value Per Share | -1,667.53 |