Discounted Cash Flow (DCF) Analysis Levered

Culp, Inc. (CULP)

$5.22

+0.02 (+0.38%)
All numbers are in Millions, Currency in USD
Stock DCF: 5.09 | 5.22 | overvalue

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 323.73296.67256.17299.72294.84289.95285.14280.41275.75271.18
Revenue (%)
Operating Cash Flow 27.4713.874.9721.48-17.449.489.339.179.028.87
Operating Cash Flow (%)
Capital Expenditure -8.01-3.26-4.58-6.66-5.70-5.52-5.43-5.34-5.25-5.16
Capital Expenditure (%)
Free Cash Flow 19.4710.610.3814.81-23.143.963.903.833.773.71

Weighted Average Cost Of Capital

Share price $ 5.22
Beta 1.227
Diluted Shares Outstanding 12.24
Cost of Debt
Tax Rate -888.00
After-tax Cost of Debt 0.17%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.281
Total Debt 10.28
Total Equity 63.90
Total Capital 74.18
Debt Weighting 13.86
Equity Weighting 86.14
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 323.73296.67256.17299.72294.84289.95285.14280.41275.75271.18
Operating Cash Flow 27.4713.874.9721.48-17.449.489.339.179.028.87
Capital Expenditure -8.01-3.26-4.58-6.66-5.70-5.52-5.43-5.34-5.25-5.16
Free Cash Flow 19.4710.610.3814.81-23.143.963.903.833.773.71
WACC
PV LFCF 3.673.343.042.772.52
SUM PV LFCF 15.34

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.02
Free cash flow (t + 1) 3.78
Terminal Value 62.83
Present Value of Terminal Value 42.72

Intrinsic Value

Enterprise Value 58.06
Net Debt -4.27
Equity Value 62.33
Shares Outstanding 12.24
Equity Value Per Share 5.09