Discounted Cash Flow (DCF) Analysis Levered
CSP Inc. (CSPI)
$25.26
-2.44 (-8.81%)
All numbers are in Millions, Currency in USD
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 | 72.92 | 79.06 | 61.79 | 49.21 | 54.36 | 51.19 | 48.21 | 45.40 | 42.76 | 40.26 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 3.02 | -3.33 | 0.24 | 1.90 | 2.67 | 0.93 | 0.88 | 0.83 | 0.78 | 0.73 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -0.44 | -0.83 | -0.23 | -0.10 | -0.23 | -0.27 | -0.26 | -0.24 | -0.23 | -0.21 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 2.58 | -4.16 | 0.01 | 1.80 | 2.44 | 0.66 | 0.62 | 0.59 | 0.55 | 0.52 |
Weighted Average Cost Of Capital
Share price | $ 25.26 |
---|---|
Beta | 1.052 |
Diluted Shares Outstanding | 4.28 |
Cost of Debt | |
Tax Rate | 2.58 |
After-tax Cost of Debt | 6.77% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.203 |
Total Debt | 5.18 |
Total Equity | 108.06 |
Total Capital | 113.24 |
Debt Weighting | 4.57 |
Equity Weighting | 95.43 |
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 | 72.92 | 79.06 | 61.79 | 49.21 | 54.36 | 51.19 | 48.21 | 45.40 | 42.76 | 40.26 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 3.02 | -3.33 | 0.24 | 1.90 | 2.67 | 0.93 | 0.88 | 0.83 | 0.78 | 0.73 |
Capital Expenditure | -0.44 | -0.83 | -0.23 | -0.10 | -0.23 | -0.27 | -0.26 | -0.24 | -0.23 | -0.21 |
Free Cash Flow | 2.58 | -4.16 | 0.01 | 1.80 | 2.44 | 0.66 | 0.62 | 0.59 | 0.55 | 0.52 |
WACC | ||||||||||
PV LFCF | 0.61 | 0.52 | 0.45 | 0.39 | 0.34 | |||||
SUM PV LFCF | 2.31 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.09 |
Free cash flow (t + 1) | 0.53 |
Terminal Value | 7.48 |
Present Value of Terminal Value | 4.84 |
Intrinsic Value
Enterprise Value | 7.15 |
---|---|
Net Debt | -18.80 |
Equity Value | 25.95 |
Shares Outstanding | 4.28 |
Equity Value Per Share | 6.07 |