Discounted Cash Flow (DCF) Analysis Levered

CorePoint Lodging Inc. (CPLG)

$15.96

+0.25 (+1.59%)
All numbers are in Millions, Currency in USD
Stock DCF: -10.15 | 15.96 | overvalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 871980.63862812411354.80306.29264.40228.25197.04
Revenue (%)
Operating Cash Flow 264182.08111116-3847.4040.9235.3230.4926.32
Operating Cash Flow (%)
Capital Expenditure 7132.626161-2418.5616.0313.8311.9410.31
Capital Expenditure (%)
Free Cash Flow 335214.70117277-6265.9656.9449.1642.4336.63

Weighted Average Cost Of Capital

Share price $ 15.96
Beta 1.815
Diluted Shares Outstanding 56.60
Cost of Debt
Tax Rate 4.81
After-tax Cost of Debt 2.52%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.377
Total Debt 1,620
Total Equity 903.34
Total Capital 2,523.34
Debt Weighting 64.20
Equity Weighting 35.80
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 871980.63862812411354.80306.29264.40228.25197.04
Operating Cash Flow 264182.08111116-3847.4040.9235.3230.4926.32
Capital Expenditure 7132.626161-2418.5616.0313.8311.9410.31
Free Cash Flow 335214.70117277-6265.9656.9449.1642.4336.63
WACC
PV LFCF 62.2050.6341.2133.5527.31
SUM PV LFCF 214.90

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.05
Free cash flow (t + 1) 37.37
Terminal Value 922.60
Present Value of Terminal Value 687.79

Intrinsic Value

Enterprise Value 902.70
Net Debt 1,477
Equity Value -574.30
Shares Outstanding 56.60
Equity Value Per Share -10.15