Discounted Cash Flow (DCF) Analysis Levered

Dana Incorporated (DAN)

$15.19

+0.80 (+5.56%)
All numbers are in Millions, Currency in USD
Stock DCF: -1.98 | 15.19 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 7,2098,1438,6207,1068,9459,551.6810,199.5210,891.2911,629.9812,418.77
Revenue (%)
Operating Cash Flow 554568637386158558.74596.64637.10680.31726.46
Operating Cash Flow (%)
Capital Expenditure -393-325-426-326-369-441.24-471.17-503.12-537.25-573.69
Capital Expenditure (%)
Free Cash Flow 16124321160-211117.50125.47133.98143.07152.77

Weighted Average Cost Of Capital

Share price $ 15.19
Beta 2.313
Diluted Shares Outstanding 144.50
Cost of Debt
Tax Rate 19.26
After-tax Cost of Debt 3.96%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.041
Total Debt 2,669
Total Equity 2,194.95
Total Capital 4,863.95
Debt Weighting 54.87
Equity Weighting 45.13
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 7,2098,1438,6207,1068,9459,551.6810,199.5210,891.2911,629.9812,418.77
Operating Cash Flow 554568637386158558.74596.64637.10680.31726.46
Capital Expenditure -393-325-426-326-369-441.24-471.17-503.12-537.25-573.69
Free Cash Flow 16124321160-211117.50125.47133.98143.07152.77
WACC
PV LFCF 108.29106.56104.86103.20101.55
SUM PV LFCF 524.46

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.51
Free cash flow (t + 1) 155.83
Terminal Value 2,393.63
Present Value of Terminal Value 1,591.14

Intrinsic Value

Enterprise Value 2,115.60
Net Debt 2,401
Equity Value -285.40
Shares Outstanding 144.50
Equity Value Per Share -1.98