Discounted Cash Flow (DCF) Analysis Levered
Ducommun Incorporated (DCO)
$42.23
-1.63 (-3.72%)
All numbers are in Millions, Currency in USD
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 | 558.18 | 629.31 | 721.09 | 628.94 | 645.41 | 673.11 | 702 | 732.13 | 763.55 | 796.32 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 35.43 | 46.24 | 51.03 | 12.61 | -0.57 | 30.55 | 31.86 | 33.22 | 34.65 | 36.14 |
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 | 7.82 | 28.62 | 32.74 | 0.10 | -17.43 | 10.51 | 10.96 | 11.43 | 11.92 | 12.43 |
Weighted Average Cost Of Capital
Share price | $ 42.23 |
---|---|
Beta | 1.295 |
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 | 8.910 |
Total Debt | 320.59 |
Total Equity | 503.89 |
Total Capital | 824.48 |
Debt Weighting | 38.88 |
Equity Weighting | 61.12 |
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 | 558.18 | 629.31 | 721.09 | 628.94 | 645.41 | 673.11 | 702 | 732.13 | 763.55 | 796.32 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 35.43 | 46.24 | 51.03 | 12.61 | -0.57 | 30.55 | 31.86 | 33.22 | 34.65 | 36.14 |
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 | 7.82 | 28.62 | 32.74 | 0.10 | -17.43 | 10.51 | 10.96 | 11.43 | 11.92 | 12.43 |
WACC | ||||||||||
PV LFCF | 8.69 | 8.51 | 8.33 | 8.16 | 7.99 | |||||
SUM PV LFCF | 47.30 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.52 |
Free cash flow (t + 1) | 12.68 |
Terminal Value | 280.54 |
Present Value of Terminal Value | 204.57 |
Intrinsic Value
Enterprise Value | 251.87 |
---|---|
Net Debt | 244.28 |
Equity Value | 7.60 |
Shares Outstanding | 11.93 |
Equity Value Per Share | 0.64 |