Discounted Cash Flow (DCF) Analysis Levered

Ducommun Incorporated (DCO)

$48.775

-0.44 (-0.90%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.05 | 48.775 | 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 558.18629.31721.09628.94645.41673.11702732.13763.55796.32
Revenue (%)
Operating Cash Flow 35.4346.2451.0312.61-0.5730.5531.8633.2234.6536.14
Operating Cash Flow (%)
Capital Expenditure -27.61-17.62-18.29-12.51-16.86-20.04-20.90-21.79-22.73-23.70
Capital Expenditure (%)
Free Cash Flow 7.8228.6232.740.10-17.4310.5110.9611.4311.9212.43

Weighted Average Cost Of Capital

Share price $ 48.775
Beta 1.259
Diluted Shares Outstanding 11.93
Cost of Debt
Tax Rate 20.50
After-tax Cost of Debt 2.77%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.820
Total Debt 320.59
Total Equity 581.98
Total Capital 902.57
Debt Weighting 35.52
Equity Weighting 64.48
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 558.18629.31721.09628.94645.41673.11702732.13763.55796.32
Operating Cash Flow 35.4346.2451.0312.61-0.5730.5531.8633.2234.6536.14
Capital Expenditure -27.61-17.62-18.29-12.51-16.86-20.04-20.90-21.79-22.73-23.70
Free Cash Flow 7.8228.6232.740.10-17.4310.5110.9611.4311.9212.43
WACC
PV LFCF 9.859.639.429.219
SUM PV LFCF 47.11

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.67
Free cash flow (t + 1) 12.68
Terminal Value 271.53
Present Value of Terminal Value 196.61

Intrinsic Value

Enterprise Value 243.72
Net Debt 244.28
Equity Value -0.56
Shares Outstanding 11.93
Equity Value Per Share -0.05