Discounted Cash Flow (DCF) Analysis Levered
Crawford & Company (CRD-B)
$6.55
+0.01 (+0.20%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 1,163.71 | 1,122.98 | 1,047.63 | 1,016.20 | 1,139.23 | 1,136.09 | 1,132.96 | 1,129.83 | 1,126.72 | 1,123.61 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 40.76 | 52.42 | 75.22 | 93.18 | 54.32 | 66.55 | 66.36 | 66.18 | 66 | 65.82 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -44.91 | -30.02 | -21.12 | -37.38 | -30.95 | -33.96 | -33.86 | -33.77 | -33.68 | -33.58 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -4.15 | 22.40 | 54.09 | 55.80 | 23.37 | 32.59 | 32.50 | 32.41 | 32.32 | 32.23 |
Weighted Average Cost Of Capital
Share price | $ 6.55 |
---|---|
Beta | 0.479 |
Diluted Shares Outstanding | 53.38 |
Cost of Debt | |
Tax Rate | 30.03 |
After-tax Cost of Debt | 1.69% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 5.085 |
Total Debt | 288.67 |
Total Equity | 349.67 |
Total Capital | 638.33 |
Debt Weighting | 45.22 |
Equity Weighting | 54.78 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 1,163.71 | 1,122.98 | 1,047.63 | 1,016.20 | 1,139.23 | 1,136.09 | 1,132.96 | 1,129.83 | 1,126.72 | 1,123.61 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 40.76 | 52.42 | 75.22 | 93.18 | 54.32 | 66.55 | 66.36 | 66.18 | 66 | 65.82 |
Capital Expenditure | -44.91 | -30.02 | -21.12 | -37.38 | -30.95 | -33.96 | -33.86 | -33.77 | -33.68 | -33.58 |
Free Cash Flow | -4.15 | 22.40 | 54.09 | 55.80 | 23.37 | 32.59 | 32.50 | 32.41 | 32.32 | 32.23 |
WACC | ||||||||||
PV LFCF | 29.35 | 28.27 | 27.22 | 26.22 | 25.25 | |||||
SUM PV LFCF | 146.16 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.55 |
Free cash flow (t + 1) | 32.88 |
Terminal Value | 2,121.06 |
Present Value of Terminal Value | 1,781.57 |
Intrinsic Value
Enterprise Value | 1,927.72 |
---|---|
Net Debt | 235.44 |
Equity Value | 1,692.29 |
Shares Outstanding | 53.38 |
Equity Value Per Share | 31.70 |