Discounted Cash Flow (DCF) Analysis Levered
Camping World Holdings, Inc. (CWH)
$19.86
+0.06 (+0.30%)
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 | 4,792.02 | 4,892.02 | 5,446.59 | 6,913.75 | 6,967.01 | 7,683.41 | 8,473.47 | 9,344.77 | 10,305.66 | 11,365.36 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 136.29 | 251.93 | 747.67 | 154 | 189.78 | 409.88 | 452.02 | 498.50 | 549.76 | 606.29 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -254.36 | -88.36 | -85.10 | -253.51 | -211.48 | -236.32 | -260.62 | -287.42 | -316.97 | -349.57 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -118.07 | 163.58 | 662.57 | -99.50 | -21.69 | 173.56 | 191.40 | 211.08 | 232.79 | 256.73 |
Weighted Average Cost Of Capital
Share price | $ 19.86 |
---|---|
Beta | 2.644 |
Diluted Shares Outstanding | 89.76 |
Cost of Debt | |
Tax Rate | 69.58 |
After-tax Cost of Debt | 0.95% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 16.036 |
Total Debt | 3,781.51 |
Total Equity | 1,782.67 |
Total Capital | 5,564.18 |
Debt Weighting | 67.96 |
Equity Weighting | 32.04 |
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 | 4,792.02 | 4,892.02 | 5,446.59 | 6,913.75 | 6,967.01 | 7,683.41 | 8,473.47 | 9,344.77 | 10,305.66 | 11,365.36 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 136.29 | 251.93 | 747.67 | 154 | 189.78 | 409.88 | 452.02 | 498.50 | 549.76 | 606.29 |
Capital Expenditure | -254.36 | -88.36 | -85.10 | -253.51 | -211.48 | -236.32 | -260.62 | -287.42 | -316.97 | -349.57 |
Free Cash Flow | -118.07 | 163.58 | 662.57 | -99.50 | -21.69 | 173.56 | 191.40 | 211.08 | 232.79 | 256.73 |
WACC | ||||||||||
PV LFCF | 164.07 | 171.06 | 178.34 | 185.93 | 193.84 | |||||
SUM PV LFCF | 893.24 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.78 |
Free cash flow (t + 1) | 261.86 |
Terminal Value | 6,927.54 |
Present Value of Terminal Value | 5,230.72 |
Intrinsic Value
Enterprise Value | 6,123.96 |
---|---|
Net Debt | 3,651.38 |
Equity Value | 2,472.58 |
Shares Outstanding | 89.76 |
Equity Value Per Share | 27.55 |