Discounted Cash Flow (DCF) Analysis Levered

Chuy's Holdings, Inc. (CHUY)

$23.36

+0.17 (+0.73%)

All numbers are in Millions, Currency in USD

Stock DCF: 9.87 | 23.36 | overvalue

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	369.59	398.20	426.36	320.95	396.47	409.97	423.92	438.36	453.28	468.71
Revenue (%)
Operating Cash Flow	44.38	47.88	43.43	42.71	49.78	49.26	50.94	52.68	54.47	56.32
Operating Cash Flow (%)
Capital Expenditure	-49.19	-44.09	-32.87	-12.15	-16.41	-32.81	-33.93	-35.08	-36.28	-37.51
Capital Expenditure (%)
Free Cash Flow	-4.80	3.80	10.56	30.57	33.37	16.46	17.02	17.60	18.19	18.81

Weighted Average Cost Of Capital

Share price	$ 23.36
Beta	1.770
Diluted Shares Outstanding	20.10
Cost of Debt
Tax Rate	11.92
After-tax Cost of Debt	0.06%
Risk-Free Rate
Market Risk Premium
Cost of Equity	11.235
Total Debt	201.74
Total Equity	469.55
Total Capital	671.29
Debt Weighting	30.05
Equity Weighting	69.95
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	369.59	398.20	426.36	320.95	396.47	409.97	423.92	438.36	453.28	468.71
Operating Cash Flow	44.38	47.88	43.43	42.71	49.78	49.26	50.94	52.68	54.47	56.32
Capital Expenditure	-49.19	-44.09	-32.87	-12.15	-16.41	-32.81	-33.93	-35.08	-36.28	-37.51
Free Cash Flow	-4.80	3.80	10.56	30.57	33.37	16.46	17.02	17.60	18.19	18.81
WACC
PV LFCF						15.25	14.62	14.01	13.43	12.88
SUM PV LFCF										70.20

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	7.88
Free cash flow (t + 1)	19.19
Terminal Value	326.37
Present Value of Terminal Value	223.36

Intrinsic Value

Enterprise Value	293.56
Net Debt	95.12
Equity Value	198.44
Shares Outstanding	20.10
Equity Value Per Share	9.87