Discounted Cash Flow (DCF) Analysis Levered

Copart, Inc. (CPRT)

$43.16

+0.02 (+0.05%)
All numbers are in Millions, Currency in USD
Stock DCF: 18.37 | 43.16 | overvalue

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 2,041.962,205.582,692.513,500.923,869.524,552.915,356.996,303.077,416.258,726.02
Revenue (%)
Operating Cash Flow 646.65917.88990.891,176.681,364.211,629.501,917.292,255.902,654.313,123.08
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 272.02314.21527.89839.24847.57847.29996.931,172.991,380.151,623.90

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 2,041.962,205.582,692.513,500.923,869.524,552.915,356.996,303.077,416.258,726.02
Operating Cash Flow 646.65917.88990.891,176.681,364.211,629.501,917.292,255.902,654.313,123.08
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 272.02314.21527.89839.24847.57847.29996.931,172.991,380.151,623.90
WACC
PV LFCF 769.14821.52877.45937.201,001.01
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