Discounted Cash Flow (DCF) Analysis Levered

Chico's FAS, Inc. (CHS)

$5.25

-0.20 (-3.67%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.81 | 5.25 | overvalue

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 2,282.382,131.142,037.881,324.051,809.931,767.691,726.441,686.151,646.801,608.37
Revenue (%)
Operating Cash Flow 166.87158.0733.34-97.8362.6143.9642.9441.9440.9640
Operating Cash Flow (%)
Capital Expenditure -48.53-54.19-33.94-11.36-13.24-28.01-27.36-26.72-26.10-25.49
Capital Expenditure (%)
Free Cash Flow 118.34103.89-0.59-109.1949.3715.9515.5815.2114.8614.51

Weighted Average Cost Of Capital

Share price $ 5.25
Beta 1.240
Diluted Shares Outstanding 122.34
Cost of Debt
Tax Rate 22.99
After-tax Cost of Debt 0.78%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.494
Total Debt 652.59
Total Equity 642.29
Total Capital 1,294.88
Debt Weighting 50.40
Equity Weighting 49.60
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 2,282.382,131.142,037.881,324.051,809.931,767.691,726.441,686.151,646.801,608.37
Operating Cash Flow 166.87158.0733.34-97.8362.6143.9642.9441.9440.9640
Capital Expenditure -48.53-54.19-33.94-11.36-13.24-28.01-27.36-26.72-26.10-25.49
Free Cash Flow 118.34103.89-0.59-109.1949.3715.9515.5815.2114.8614.51
WACC
PV LFCF 15.1814.1013.1012.1811.32
SUM PV LFCF 65.88

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.10
Free cash flow (t + 1) 14.80
Terminal Value 477.48
Present Value of Terminal Value 372.34

Intrinsic Value

Enterprise Value 438.22
Net Debt 537.48
Equity Value -99.26
Shares Outstanding 122.34
Equity Value Per Share -0.81