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
Stock DCF: 276.66 | 274.12 | undervalue

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 9,352.919,175.308,707.1912,952.5915,094.4717,294.2319,814.5622,702.1826,010.6229,801.21
Revenue (%)
Operating Cash Flow 530.61504.31804.09788.74881.951,118.481,281.481,468.231,682.201,927.35
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 135.9165.34362.84462.27405.38435.36498.81571.50654.79750.21

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 9,352.919,175.308,707.1912,952.5915,094.4717,294.2319,814.5622,702.1826,010.6229,801.21
Operating Cash Flow 530.61504.31804.09788.74881.951,118.481,281.481,468.231,682.201,927.35
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 135.9165.34362.84462.27405.38435.36498.81571.50654.79750.21
WACC
PV LFCF 404.46430.51458.24487.76519.18
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