Discounted Cash Flow (DCF) Analysis Levered

Cirrus Logic, Inc. (CRUS)

$68.8

-0.75 (-1.08%)
All numbers are in Millions, Currency in USD
Stock DCF: 96.99 | 68.8 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 1,532.191,185.521,281.121,369.231,781.461,881.321,986.782,098.152,215.772,339.98
Revenue (%)
Operating Cash Flow 318.71206.69295.82348.95124.75352.99372.78393.67415.74439.04
Operating Cash Flow (%)
Capital Expenditure -84.50-35.76-21.58-20.47-30.01-50.40-53.23-56.21-59.36-62.69
Capital Expenditure (%)
Free Cash Flow 234.21170.94274.24328.4794.74302.59319.55337.46356.38376.35

Weighted Average Cost Of Capital

Share price $ 68.8
Beta 0.994
Diluted Shares Outstanding 59.14
Cost of Debt
Tax Rate 11.48
After-tax Cost of Debt 0.47%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.498
Total Debt 177.84
Total Equity 4,069.04
Total Capital 4,246.88
Debt Weighting 4.19
Equity Weighting 95.81
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 1,532.191,185.521,281.121,369.231,781.461,881.321,986.782,098.152,215.772,339.98
Operating Cash Flow 318.71206.69295.82348.95124.75352.99372.78393.67415.74439.04
Capital Expenditure -84.50-35.76-21.58-20.47-30.01-50.40-53.23-56.21-59.36-62.69
Free Cash Flow 234.21170.94274.24328.4794.74302.59319.55337.46356.38376.35
WACC
PV LFCF 239.14233.49227.98222.59217.34
SUM PV LFCF 1,334.26

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.16
Free cash flow (t + 1) 383.88
Terminal Value 6,231.83
Present Value of Terminal Value 4,210

Intrinsic Value

Enterprise Value 5,544.26
Net Debt -191.97
Equity Value 5,736.24
Shares Outstanding 59.14
Equity Value Per Share 96.99