Discounted Cash Flow (DCF) Analysis Levered
Daktronics, Inc. (DAKT)
$9.255
-0.07 (-0.80%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 569.70 | 608.93 | 482.03 | 610.97 | 754.20 | 822.52 | 897.03 | 978.30 | 1,066.93 | 1,163.58 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 29.55 | 10.81 | 66.21 | -27.04 | 15.02 | 30.05 | 32.77 | 35.74 | 38.97 | 42.50 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -17.27 | -18.09 | -7.89 | -20.38 | -25.39 | -23.59 | -25.73 | -28.06 | -30.60 | -33.37 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 12.28 | -7.28 | 58.32 | -47.41 | -10.36 | 6.46 | 7.04 | 7.68 | 8.37 | 9.13 |
Weighted Average Cost Of Capital
Share price | $ 9.255 |
---|---|
Beta | 1.069 |
Diluted Shares Outstanding | 45.52 |
Cost of Debt | |
Tax Rate | 48.69 |
After-tax Cost of Debt | 2.22% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.366 |
Total Debt | 17.75 |
Total Equity | 421.30 |
Total Capital | 439.05 |
Debt Weighting | 4.04 |
Equity Weighting | 95.96 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 569.70 | 608.93 | 482.03 | 610.97 | 754.20 | 822.52 | 897.03 | 978.30 | 1,066.93 | 1,163.58 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 29.55 | 10.81 | 66.21 | -27.04 | 15.02 | 30.05 | 32.77 | 35.74 | 38.97 | 42.50 |
Capital Expenditure | -17.27 | -18.09 | -7.89 | -20.38 | -25.39 | -23.59 | -25.73 | -28.06 | -30.60 | -33.37 |
Free Cash Flow | 12.28 | -7.28 | 58.32 | -47.41 | -10.36 | 6.46 | 7.04 | 7.68 | 8.37 | 9.13 |
WACC | ||||||||||
PV LFCF | 5.92 | 5.92 | 5.92 | 5.91 | 5.91 | |||||
SUM PV LFCF | 29.58 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.08 |
Free cash flow (t + 1) | 9.32 |
Terminal Value | 131.57 |
Present Value of Terminal Value | 85.20 |
Intrinsic Value
Enterprise Value | 114.78 |
---|---|
Net Debt | -6.23 |
Equity Value | 121.01 |
Shares Outstanding | 45.52 |
Equity Value Per Share | 2.66 |