Discounted Cash Flow (DCF) Analysis Levered
Casey's General Stores, Inc. (CASY)
$274.12
+0.03 (+0.01%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 9,352.91 | 9,175.30 | 8,707.19 | 12,952.59 | 15,094.47 | 17,294.23 | 19,814.56 | 22,702.18 | 26,010.62 | 29,801.21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 530.61 | 504.31 | 804.09 | 788.74 | 881.95 | 1,118.48 | 1,281.48 | 1,468.23 | 1,682.20 | 1,927.35 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -394.70 | -438.98 | -441.25 | -326.48 | -476.57 | -683.12 | -782.67 | -896.73 | -1,027.41 | -1,177.14 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 135.91 | 65.34 | 362.84 | 462.27 | 405.38 | 435.36 | 498.81 | 571.50 | 654.79 | 750.21 |
Weighted Average Cost Of Capital
| Share price | $ 274.12 |
|---|---|
| Beta | 0.825 |
| Diluted Shares Outstanding | 37.57 |
| Cost of Debt | |
| Tax Rate | 23.97 |
| After-tax Cost of Debt | 2.36% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.493 |
| Total Debt | 1,673.37 |
| Total Equity | 10,299.70 |
| Total Capital | 11,973.07 |
| Debt Weighting | 13.98 |
| Equity Weighting | 86.02 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 9,352.91 | 9,175.30 | 8,707.19 | 12,952.59 | 15,094.47 | 17,294.23 | 19,814.56 | 22,702.18 | 26,010.62 | 29,801.21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 530.61 | 504.31 | 804.09 | 788.74 | 881.95 | 1,118.48 | 1,281.48 | 1,468.23 | 1,682.20 | 1,927.35 |
| Capital Expenditure | -394.70 | -438.98 | -441.25 | -326.48 | -476.57 | -683.12 | -782.67 | -896.73 | -1,027.41 | -1,177.14 |
| Free Cash Flow | 135.91 | 65.34 | 362.84 | 462.27 | 405.38 | 435.36 | 498.81 | 571.50 | 654.79 | 750.21 |
| WACC | ||||||||||
| PV LFCF | 404.46 | 430.51 | 458.24 | 487.76 | 519.18 | |||||
| SUM PV LFCF | 2,300.15 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.64 |
| Free cash flow (t + 1) | 765.21 |
| Terminal Value | 13,567.63 |
| Present Value of Terminal Value | 9,389.35 |
Intrinsic Value
| Enterprise Value | 11,689.50 |
|---|---|
| Net Debt | 1,294.51 |
| Equity Value | 10,395 |
| Shares Outstanding | 37.57 |
| Equity Value Per Share | 276.66 |