Discounted Cash Flow (DCF) Analysis Levered
Copart, Inc. (CPRT)
$43.16
+0.02 (+0.05%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 2,041.96 | 2,205.58 | 2,692.51 | 3,500.92 | 3,869.52 | 4,552.91 | 5,356.99 | 6,303.07 | 7,416.25 | 8,726.02 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 646.65 | 917.88 | 990.89 | 1,176.68 | 1,364.21 | 1,629.50 | 1,917.29 | 2,255.90 | 2,654.31 | 3,123.08 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -374.63 | -603.67 | -463 | -337.45 | -516.64 | -782.21 | -920.36 | -1,082.90 | -1,274.15 | -1,499.18 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 272.02 | 314.21 | 527.89 | 839.24 | 847.57 | 847.29 | 996.93 | 1,172.99 | 1,380.15 | 1,623.90 |
Weighted Average Cost Of Capital
| Share price | $ 43.16 |
|---|---|
| Beta | 1.192 |
| Diluted Shares Outstanding | 966.65 |
| Cost of Debt | |
| Tax Rate | 20.37 |
| After-tax Cost of Debt | 43.58% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.065 |
| Total Debt | 120.45 |
| Total Equity | 41,720.48 |
| Total Capital | 41,840.94 |
| Debt Weighting | 0.29 |
| Equity Weighting | 99.71 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 2,041.96 | 2,205.58 | 2,692.51 | 3,500.92 | 3,869.52 | 4,552.91 | 5,356.99 | 6,303.07 | 7,416.25 | 8,726.02 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 646.65 | 917.88 | 990.89 | 1,176.68 | 1,364.21 | 1,629.50 | 1,917.29 | 2,255.90 | 2,654.31 | 3,123.08 |
| Capital Expenditure | -374.63 | -603.67 | -463 | -337.45 | -516.64 | -782.21 | -920.36 | -1,082.90 | -1,274.15 | -1,499.18 |
| Free Cash Flow | 272.02 | 314.21 | 527.89 | 839.24 | 847.57 | 847.29 | 996.93 | 1,172.99 | 1,380.15 | 1,623.90 |
| WACC | ||||||||||
| PV LFCF | 769.14 | 821.52 | 877.45 | 937.20 | 1,001.01 | |||||
| SUM PV LFCF | 4,406.33 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.16 |
| Free cash flow (t + 1) | 1,656.38 |
| Terminal Value | 20,298.75 |
| Present Value of Terminal Value | 12,512.66 |
Intrinsic Value
| Enterprise Value | 16,918.99 |
|---|---|
| Net Debt | -836.94 |
| Equity Value | 17,755.93 |
| Shares Outstanding | 966.65 |
| Equity Value Per Share | 18.37 |