Discounted Cash Flow (DCF) Analysis Levered

CSW Industrials, Inc. (CSWI)

$118.15

-0.32 (-0.27%)
All numbers are in Millions, Currency in USD
Stock DCF: 212.27 | 118.15 | 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 326.22350.15385.87419.20626.43744.85885.641,053.041,252.091,488.77
Revenue (%)
Operating Cash Flow 43.1659.7169.9066.2569.09112.07133.25158.44188.39224
Operating Cash Flow (%)
Capital Expenditure -5.53-7.51-11.44-8.83-15.65-17-20.21-24.04-28.58-33.98
Capital Expenditure (%)
Free Cash Flow 37.6252.2058.4657.4253.4495.07113.04134.40159.81190.02

Weighted Average Cost Of Capital

Share price $ 118.15
Beta 0.801
Diluted Shares Outstanding 15.81
Cost of Debt
Tax Rate 27.42
After-tax Cost of Debt 1.21%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.483
Total Debt 325.32
Total Equity 1,867.60
Total Capital 2,192.92
Debt Weighting 14.83
Equity Weighting 85.17
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 326.22350.15385.87419.20626.43744.85885.641,053.041,252.091,488.77
Operating Cash Flow 43.1659.7169.9066.2569.09112.07133.25158.44188.39224
Capital Expenditure -5.53-7.51-11.44-8.83-15.65-17-20.21-24.04-28.58-33.98
Free Cash Flow 37.6252.2058.4657.4253.4495.07113.04134.40159.81190.02
WACC
PV LFCF 89.2299.57111.11123.99138.36
SUM PV LFCF 562.25

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.55
Free cash flow (t + 1) 193.82
Terminal Value 4,259.72
Present Value of Terminal Value 3,101.80

Intrinsic Value

Enterprise Value 3,664.05
Net Debt 308.70
Equity Value 3,355.35
Shares Outstanding 15.81
Equity Value Per Share 212.27