Discounted Cash Flow (DCF) Analysis Levered

Columbus McKinnon Corporation (CMCO)

$41.77

+0.26 (+0.63%)
All numbers are in Millions, Currency in USD
Stock DCF: 45.93 | 41.77 | 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 876.28809.16649.64906.55936.24972.401,009.951,048.951,089.461,131.53
Revenue (%)
Operating Cash Flow 79.50106.7998.8948.8883.64100.78104.67108.71112.91117.27
Operating Cash Flow (%)
Capital Expenditure -12.29-9.43-12.30-13.10-12.63-14.11-14.66-15.22-15.81-16.42
Capital Expenditure (%)
Free Cash Flow 67.2197.3686.5935.787186.6690.0193.4997.10100.85

Weighted Average Cost Of Capital

Share price $ 41.77
Beta 1.275
Diluted Shares Outstanding 28.82
Cost of Debt
Tax Rate 34.97
After-tax Cost of Debt 3.45%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.280
Total Debt 526.08
Total Equity 1,203.73
Total Capital 1,729.81
Debt Weighting 30.41
Equity Weighting 69.59
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 876.28809.16649.64906.55936.24972.401,009.951,048.951,089.461,131.53
Operating Cash Flow 79.50106.7998.8948.8883.64100.78104.67108.71112.91117.27
Capital Expenditure -12.29-9.43-12.30-13.10-12.63-14.11-14.66-15.22-15.81-16.42
Free Cash Flow 67.2197.3686.5935.787186.6690.0193.4997.10100.85
WACC
PV LFCF 80.1076.8873.8070.8468
SUM PV LFCF 369.63

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.20
Free cash flow (t + 1) 103.87
Terminal Value 1,997.54
Present Value of Terminal Value 1,346.97

Intrinsic Value

Enterprise Value 1,716.60
Net Debt 392.91
Equity Value 1,323.70
Shares Outstanding 28.82
Equity Value Per Share 45.93