Discounted Cash Flow (DCF) Analysis Levered
CorePoint Lodging Inc. (CPLG)
$15.96
+0.25 (+1.59%)
All numbers are in Millions, Currency in USD
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 | 871 | 980.63 | 862 | 812 | 411 | 354.80 | 306.29 | 264.40 | 228.25 | 197.04 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 264 | 182.08 | 111 | 116 | -38 | 47.40 | 40.92 | 35.32 | 30.49 | 26.32 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | 71 | 32.62 | 6 | 161 | -24 | 18.56 | 16.03 | 13.83 | 11.94 | 10.31 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 335 | 214.70 | 117 | 277 | -62 | 65.96 | 56.94 | 49.16 | 42.43 | 36.63 |
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 | 871 | 980.63 | 862 | 812 | 411 | 354.80 | 306.29 | 264.40 | 228.25 | 197.04 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 264 | 182.08 | 111 | 116 | -38 | 47.40 | 40.92 | 35.32 | 30.49 | 26.32 |
Capital Expenditure | 71 | 32.62 | 6 | 161 | -24 | 18.56 | 16.03 | 13.83 | 11.94 | 10.31 |
Free Cash Flow | 335 | 214.70 | 117 | 277 | -62 | 65.96 | 56.94 | 49.16 | 42.43 | 36.63 |
WACC | ||||||||||
PV LFCF | 62.20 | 50.63 | 41.21 | 33.55 | 27.31 | |||||
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 |