Discounted Cash Flow (DCF) Analysis Levered

Columbus McKinnon Corporation (CMCO)

$26.16

+0.18 (+0.69%)
All numbers are in Millions, Currency in USD
Stock DCF: 60.77 | 26.16 | undervalue

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 839.42876.28809.16649.64906.55944.10983.191,023.911,066.311,110.47
Revenue (%)
Operating Cash Flow 69.6679.50106.7998.8948.8896.64100.65104.81109.15113.67
Operating Cash Flow (%)
Capital Expenditure -14.51-12.29-9.43-12.30-13.10-14.42-15.02-15.64-16.28-16.96
Capital Expenditure (%)
Free Cash Flow 55.1567.2197.3686.5935.7882.2385.6389.1892.8796.72

Weighted Average Cost Of Capital

Share price $ 26.16
Beta 1.259
Diluted Shares Outstanding 24.17
Cost of Debt
Tax Rate 22.85
After-tax Cost of Debt 3.04%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.746
Total Debt 511.23
Total Equity 632.37
Total Capital 1,143.59
Debt Weighting 44.70
Equity Weighting 55.30
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 839.42876.28809.16649.64906.55944.10983.191,023.911,066.311,110.47
Operating Cash Flow 69.6679.50106.7998.8948.8896.64100.65104.81109.15113.67
Capital Expenditure -14.51-12.29-9.43-12.30-13.10-14.42-15.02-15.64-16.28-16.96
Free Cash Flow 55.1567.2197.3686.5935.7882.2385.6389.1892.8796.72
WACC
PV LFCF 77.0375.1473.3171.5269.77
SUM PV LFCF 366.76

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.75
Free cash flow (t + 1) 98.65
Terminal Value 2,076.85
Present Value of Terminal Value 1,498.19

Intrinsic Value

Enterprise Value 1,864.95
Net Debt 395.84
Equity Value 1,469.11
Shares Outstanding 24.17
Equity Value Per Share 60.77