Discounted Cash Flow (DCF) Analysis Levered

Caleres, Inc. (CAL)

$38.7

+0.09 (+0.23%)
All numbers are in Millions, Currency in USD
Stock DCF: 23.21 | 38.7 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 2,921.562,117.072,777.602,968.143,072.263,180.033,291.583,407.053,526.563,650.27
Revenue (%)
Operating Cash Flow 170.79126.35168.44125.88207.12183.56189.99196.66203.56210.70
Operating Cash Flow (%)
Capital Expenditure -50.15-22.06-24.14-64.04-44.44-45.99-47.61-49.28-51.01-52.80
Capital Expenditure (%)
Free Cash Flow 120.63104.29144.3061.84162.68137.56142.39147.38152.55157.90

Weighted Average Cost Of Capital

Share price $ 38.7
Beta 1.962
Diluted Shares Outstanding 35.41
Cost of Debt
Tax Rate 14.69
After-tax Cost of Debt 3.55%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.420
Total Debt 887.63
Total Equity 1,370.17
Total Capital 2,257.80
Debt Weighting 39.31
Equity Weighting 60.69
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 2,921.562,117.072,777.602,968.143,072.263,180.033,291.583,407.053,526.563,650.27
Operating Cash Flow 170.79126.35168.44125.88207.12183.56189.99196.66203.56210.70
Capital Expenditure -50.15-22.06-24.14-64.04-44.44-45.99-47.61-49.28-51.01-52.80
Free Cash Flow 120.63104.29144.3061.84162.68137.56142.39147.38152.55157.90
WACC
PV LFCF 162.68125.58118.67112.13105.96100.12
SUM PV LFCF 562.46

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.54
Free cash flow (t + 1) 158.69
Terminal Value 1,755.45
Present Value of Terminal Value 1,113.08

Intrinsic Value

Enterprise Value 1,675.53
Net Debt 853.92
Equity Value 821.61
Shares Outstanding 35.41
Equity Value Per Share 23.21