Discounted Cash Flow (DCF) Analysis Levered
Celsius Holdings, Inc. (CELH)
$91.97
+3.71 (+4.20%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 36.16 | 52.60 | 75.15 | 130.73 | 314.27 | 552.08 | 969.84 | 1,703.71 | 2,992.90 | 5,257.63 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -8.42 | -11.65 | 1.03 | 3.40 | -96.59 | -79.70 | -140 | -245.94 | -432.04 | -758.97 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.05 | -0.11 | -0.08 | -0.57 | -3.15 | -2.09 | -3.67 | -6.45 | -11.32 | -19.89 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -8.47 | -11.76 | 0.96 | 2.82 | -99.74 | -81.78 | -143.67 | -252.39 | -443.37 | -778.86 |
Weighted Average Cost Of Capital
| Share price | $ 91.97 |
|---|---|
| Beta | 1.907 |
| Diluted Shares Outstanding | 74.44 |
| Cost of Debt | |
| Tax Rate | 197.01 |
| After-tax Cost of Debt | -0.53% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.891 |
| Total Debt | 1.37 |
| Total Equity | 6,846.58 |
| Total Capital | 6,847.95 |
| Debt Weighting | 0.02 |
| Equity Weighting | 99.98 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 36.16 | 52.60 | 75.15 | 130.73 | 314.27 | 552.08 | 969.84 | 1,703.71 | 2,992.90 | 5,257.63 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -8.42 | -11.65 | 1.03 | 3.40 | -96.59 | -79.70 | -140 | -245.94 | -432.04 | -758.97 |
| Capital Expenditure | -0.05 | -0.11 | -0.08 | -0.57 | -3.15 | -2.09 | -3.67 | -6.45 | -11.32 | -19.89 |
| Free Cash Flow | -8.47 | -11.76 | 0.96 | 2.82 | -99.74 | -81.78 | -143.67 | -252.39 | -443.37 | -778.86 |
| WACC | ||||||||||
| PV LFCF | -64.17 | -99.86 | -155.40 | -241.82 | -376.29 | |||||
| SUM PV LFCF | -1,058.40 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.89 |
| Free cash flow (t + 1) | -794.44 |
| Terminal Value | -7,295.12 |
| Present Value of Terminal Value | -3,978.83 |
Intrinsic Value
| Enterprise Value | -5,037.22 |
|---|---|
| Net Debt | -14.88 |
| Equity Value | -5,022.34 |
| Shares Outstanding | 74.44 |
| Equity Value Per Share | -67.47 |