Discounted Cash Flow (DCF) Analysis Levered
CIRCOR International, Inc. (CIR)
$56
+2.75 (+5.16%)
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 | 1,175.83 | 964.31 | 773.27 | 758.67 | 786.92 | 716.17 | 651.78 | 593.17 | 539.84 | 491.30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 49.75 | 15.91 | -22.72 | 10.45 | -0.82 | 6.04 | 5.50 | 5 | 4.55 | 4.14 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -23.59 | -13.85 | -12.54 | -14.75 | -21.99 | -14.04 | -12.78 | -11.63 | -10.58 | -9.63 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 26.16 | 2.06 | -35.27 | -4.30 | -22.81 | -8 | -7.28 | -6.63 | -6.03 | -5.49 |
Weighted Average Cost Of Capital
| Share price | $ 56 |
|---|---|
| Beta | 2.258 |
| Diluted Shares Outstanding | 20.43 |
| Cost of Debt | |
| Tax Rate | 18.08 |
| After-tax Cost of Debt | 6.87% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.815 |
| Total Debt | 535.01 |
| Total Equity | 1,143.91 |
| Total Capital | 1,678.93 |
| Debt Weighting | 31.87 |
| Equity Weighting | 68.13 |
| 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 | 1,175.83 | 964.31 | 773.27 | 758.67 | 786.92 | 716.17 | 651.78 | 593.17 | 539.84 | 491.30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 49.75 | 15.91 | -22.72 | 10.45 | -0.82 | 6.04 | 5.50 | 5 | 4.55 | 4.14 |
| Capital Expenditure | -23.59 | -13.85 | -12.54 | -14.75 | -21.99 | -14.04 | -12.78 | -11.63 | -10.58 | -9.63 |
| Free Cash Flow | 26.16 | 2.06 | -35.27 | -4.30 | -22.81 | -8 | -7.28 | -6.63 | -6.03 | -5.49 |
| WACC | ||||||||||
| PV LFCF | -7.13 | -5.78 | -4.68 | -3.80 | -3.08 | |||||
| SUM PV LFCF | -24.46 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.28 |
| Free cash flow (t + 1) | -5.60 |
| Terminal Value | -54.47 |
| Present Value of Terminal Value | -30.53 |
Intrinsic Value
| Enterprise Value | -54.99 |
|---|---|
| Net Debt | 470.74 |
| Equity Value | -525.73 |
| Shares Outstanding | 20.43 |
| Equity Value Per Share | -25.74 |