Discounted Cash Flow (DCF) Analysis Levered
Casey's General Stores, Inc. (CASY)
$229.05
+3.89 (+1.73%)
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 | 8,391.12 | 9,352.91 | 9,175.30 | 8,707.19 | 12,952.59 | 14,675.89 | 16,628.47 | 18,840.82 | 21,347.53 | 24,187.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 419.80 | 530.61 | 504.31 | 804.09 | 788.74 | 924.49 | 1,047.49 | 1,186.85 | 1,344.76 | 1,523.67 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -577.42 | -394.70 | -438.98 | -441.25 | -326.48 | -689 | -780.67 | -884.54 | -1,002.22 | -1,135.56 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -157.62 | 135.91 | 65.34 | 362.84 | 462.27 | 235.48 | 266.81 | 302.31 | 342.53 | 388.11 |
Weighted Average Cost Of Capital
| Share price | $ 229.05 |
|---|---|
| Beta | 0.812 |
| Diluted Shares Outstanding | 37.36 |
| Cost of Debt | |
| Tax Rate | 22.90 |
| After-tax Cost of Debt | -2.61% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.524 |
| Total Debt | 1,687.87 |
| Total Equity | 8,556.55 |
| Total Capital | 10,244.42 |
| Debt Weighting | 16.48 |
| Equity Weighting | 83.52 |
| 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 | 8,391.12 | 9,352.91 | 9,175.30 | 8,707.19 | 12,952.59 | 14,675.89 | 16,628.47 | 18,840.82 | 21,347.53 | 24,187.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 419.80 | 530.61 | 504.31 | 804.09 | 788.74 | 924.49 | 1,047.49 | 1,186.85 | 1,344.76 | 1,523.67 |
| Capital Expenditure | -577.42 | -394.70 | -438.98 | -441.25 | -326.48 | -689 | -780.67 | -884.54 | -1,002.22 | -1,135.56 |
| Free Cash Flow | -157.62 | 135.91 | 65.34 | 362.84 | 462.27 | 235.48 | 266.81 | 302.31 | 342.53 | 388.11 |
| WACC | ||||||||||
| PV LFCF | 222.45 | 238.09 | 254.84 | 272.76 | 291.94 | |||||
| SUM PV LFCF | 1,280.07 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.86 |
| Free cash flow (t + 1) | 395.87 |
| Terminal Value | 10,255.68 |
| Present Value of Terminal Value | 7,714.45 |
Intrinsic Value
| Enterprise Value | 8,994.53 |
|---|---|
| Net Debt | 1,528.99 |
| Equity Value | 7,465.54 |
| Shares Outstanding | 37.36 |
| Equity Value Per Share | 199.84 |