Discounted Cash Flow (DCF) Analysis Levered

Celestica Inc. (CLS)

$10.94

-0.02 (-0.18%)
All numbers are in Millions, Currency in USD
Stock DCF: 7.04 | 10.94 | 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 6,142.706,633.205,888.305,748.105,634.705,527.665,422.655,319.645,218.595,119.45
Revenue (%)
Operating Cash Flow 12733.10345239.60226.80183.73180.24176.81173.46170.16
Operating Cash Flow (%)
Capital Expenditure -102.60-82.20-80.50-52.80-52.20-67.68-66.39-65.13-63.89-62.68
Capital Expenditure (%)
Free Cash Flow 24.40-49.10264.50186.80174.60116.05113.85111.68109.56107.48

Weighted Average Cost Of Capital

Share price $ 10.94
Beta 2.337
Diluted Shares Outstanding 126.70
Cost of Debt
Tax Rate 23.60
After-tax Cost of Debt 3.05%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.830
Total Debt 794.40
Total Equity 1,386.10
Total Capital 2,180.50
Debt Weighting 36.43
Equity Weighting 63.57
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 6,142.706,633.205,888.305,748.105,634.705,527.665,422.655,319.645,218.595,119.45
Operating Cash Flow 12733.10345239.60226.80183.73180.24176.81173.46170.16
Capital Expenditure -102.60-82.20-80.50-52.80-52.20-67.68-66.39-65.13-63.89-62.68
Free Cash Flow 24.40-49.10264.50186.80174.60116.05113.85111.68109.56107.48
WACC
PV LFCF 105.6094.2684.1475.1167.04
SUM PV LFCF 426.15

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.90
Free cash flow (t + 1) 109.63
Terminal Value 1,387.74
Present Value of Terminal Value 865.60

Intrinsic Value

Enterprise Value 1,291.75
Net Debt 400.40
Equity Value 891.35
Shares Outstanding 126.70
Equity Value Per Share 7.04