Discounted Cash Flow (DCF) Analysis Levered
CoreCivic, Inc. (CXW)
$11.04
-0.07 (-0.63%)
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 | 1,835.77 | 1,980.69 | 1,905.48 | 1,862.62 | 1,845.33 | 1,849.57 | 1,853.82 | 1,858.09 | 1,862.36 | 1,866.64 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 322.88 | 354.38 | 355.53 | 263.23 | 153.58 | 283.33 | 283.98 | 284.64 | 285.29 | 285.95 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -121.68 | -193.32 | -83.79 | -80.88 | -81.40 | -109.27 | -109.52 | -109.77 | -110.02 | -110.28 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 201.20 | 161.06 | 271.74 | 182.35 | 72.19 | 174.06 | 174.46 | 174.86 | 175.27 | 175.67 |
Weighted Average Cost Of Capital
| Share price | $ 11.04 |
|---|---|
| Beta | 0.944 |
| Diluted Shares Outstanding | 119.10 |
| Cost of Debt | |
| Tax Rate | 26.00 |
| After-tax Cost of Debt | 5.03% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.192 |
| Total Debt | 1,250.38 |
| Total Equity | 1,314.84 |
| Total Capital | 2,565.22 |
| Debt Weighting | 48.74 |
| Equity Weighting | 51.26 |
| 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 | 1,835.77 | 1,980.69 | 1,905.48 | 1,862.62 | 1,845.33 | 1,849.57 | 1,853.82 | 1,858.09 | 1,862.36 | 1,866.64 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 322.88 | 354.38 | 355.53 | 263.23 | 153.58 | 283.33 | 283.98 | 284.64 | 285.29 | 285.95 |
| Capital Expenditure | -121.68 | -193.32 | -83.79 | -80.88 | -81.40 | -109.27 | -109.52 | -109.77 | -110.02 | -110.28 |
| Free Cash Flow | 201.20 | 161.06 | 271.74 | 182.35 | 72.19 | 174.06 | 174.46 | 174.86 | 175.27 | 175.67 |
| WACC | ||||||||||
| PV LFCF | 162.43 | 151.93 | 142.10 | 132.91 | 124.32 | |||||
| SUM PV LFCF | 713.69 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.16 |
| Free cash flow (t + 1) | 179.18 |
| Terminal Value | 3,472.51 |
| Present Value of Terminal Value | 2,457.43 |
Intrinsic Value
| Enterprise Value | 3,171.12 |
|---|---|
| Net Debt | 1,100.98 |
| Equity Value | 2,070.14 |
| Shares Outstanding | 119.10 |
| Equity Value Per Share | 17.38 |