Discounted Cash Flow (DCF) Analysis Levered

Computer Modelling Group Ltd. (CMG.TO)

$5.98

-0.02 (-0.33%)
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 74.6874.8675.7967.3666.2064.3262.5060.725957.32
Revenue (%)
Operating Cash Flow 30.5323.3920.5326.4328.7223.3922.7322.0821.4520.84
Operating Cash Flow (%)
Capital Expenditure -4.67-0.74-0.99-0.40-0.70-1.31-1.28-1.24-1.20-1.17
Capital Expenditure (%)
Free Cash Flow 25.8622.6419.5426.0328.0122.0821.4520.8420.2519.67

Weighted Average Cost Of Capital

Share price $ 5.98
Beta 1.322
Diluted Shares Outstanding 80.61
Cost of Debt
Tax Rate 23.38
After-tax Cost of Debt 3.88%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.850
Total Debt 39.59
Total Equity 482.04
Total Capital 521.63
Debt Weighting 7.59
Equity Weighting 92.41
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 74.6874.8675.7967.3666.2064.3262.5060.725957.32
Operating Cash Flow 30.5323.3920.5326.4328.7223.3922.7322.0821.4520.84
Capital Expenditure -4.67-0.74-0.99-0.40-0.70-1.31-1.28-1.24-1.20-1.17
Free Cash Flow 25.8622.6419.5426.0328.0122.0821.4520.8420.2519.67
WACC
PV LFCF 20.1817.9215.9214.1412.55
SUM PV LFCF 80.71

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.40
Free cash flow (t + 1) 20.07
Terminal Value 271.18
Present Value of Terminal Value 173.05

Intrinsic Value

Enterprise Value 253.76
Net Debt -
Equity Value -
Shares Outstanding 80.61
Equity Value Per Share -