Discounted Cash Flow (DCF) Analysis Levered
Cree, Inc. (CREE)
$79.12
0.00 (0.00%)
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 | 1,473 | 924.90 | 1,080 | 903.90 | 525.60 | 422.32 | 339.34 | 272.66 | 219.08 | 176.03 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 215.90 | 167.36 | 202.30 | -29 | -125.50 | 20.61 | 16.56 | 13.30 | 10.69 | 8.59 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -99.33 | -195.80 | -153 | -244.30 | -576.40 | -151 | -121.33 | -97.49 | -78.33 | -62.94 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 116.57 | -28.45 | 49.30 | -273.30 | -701.90 | -130.39 | -104.77 | -84.18 | -67.64 | -54.35 |
Weighted Average Cost Of Capital
| Share price | $ 79.12 |
|---|---|
| Beta | 1.439 |
| Diluted Shares Outstanding | 112.35 |
| Cost of Debt | |
| Tax Rate | -54.00 |
| After-tax Cost of Debt | 5.41% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.595 |
| Total Debt | 839.10 |
| Total Equity | 8,888.82 |
| Total Capital | 9,727.92 |
| Debt Weighting | 8.63 |
| Equity Weighting | 91.37 |
| 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 | 1,473 | 924.90 | 1,080 | 903.90 | 525.60 | 422.32 | 339.34 | 272.66 | 219.08 | 176.03 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 215.90 | 167.36 | 202.30 | -29 | -125.50 | 20.61 | 16.56 | 13.30 | 10.69 | 8.59 |
| Capital Expenditure | -99.33 | -195.80 | -153 | -244.30 | -576.40 | -151 | -121.33 | -97.49 | -78.33 | -62.94 |
| Free Cash Flow | 116.57 | -28.45 | 49.30 | -273.30 | -701.90 | -130.39 | -104.77 | -84.18 | -67.64 | -54.35 |
| WACC | ||||||||||
| PV LFCF | -95.19 | -68.87 | -49.82 | -36.05 | -26.08 | |||||
| SUM PV LFCF | -340.43 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.06 |
| Free cash flow (t + 1) | -55.44 |
| Terminal Value | -611.90 |
| Present Value of Terminal Value | -362.15 |
Intrinsic Value
| Enterprise Value | -702.59 |
|---|---|
| Net Debt | 460.10 |
| Equity Value | -1,162.69 |
| Shares Outstanding | 112.35 |
| Equity Value Per Share | -10.35 |