Discounted Cash Flow (DCF) Analysis Levered
Dillard's, Inc. (DDS)
$301.95
-3.16 (-1.04%)
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 | 6,503.35 | 6,343.21 | 4,433.18 | 6,624.27 | 6,996.20 | 7,389.13 | 7,804.14 | 8,242.45 | 8,705.37 | 9,194.30 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 367.29 | 365.07 | 252.95 | 1,280.02 | 948.30 | 738.71 | 780.20 | 824.02 | 870.30 | 919.18 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -137.06 | -103.38 | -60.45 | -104.36 | -120.10 | -124.04 | -131 | -138.36 | -146.13 | -154.34 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 230.22 | 261.69 | 192.49 | 1,175.66 | 828.20 | 614.68 | 649.20 | 685.66 | 724.17 | 764.84 |
Weighted Average Cost Of Capital
Share price | $ 301.95 |
---|---|
Beta | 0.966 |
Diluted Shares Outstanding | 20.60 |
Cost of Debt | |
Tax Rate | 19.63 |
After-tax Cost of Debt | 4.41% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.939 |
Total Debt | 555.20 |
Total Equity | 6,220.17 |
Total Capital | 6,775.37 |
Debt Weighting | 8.19 |
Equity Weighting | 91.81 |
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 | 6,503.35 | 6,343.21 | 4,433.18 | 6,624.27 | 6,996.20 | 7,389.13 | 7,804.14 | 8,242.45 | 8,705.37 | 9,194.30 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 367.29 | 365.07 | 252.95 | 1,280.02 | 948.30 | 738.71 | 780.20 | 824.02 | 870.30 | 919.18 |
Capital Expenditure | -137.06 | -103.38 | -60.45 | -104.36 | -120.10 | -124.04 | -131 | -138.36 | -146.13 | -154.34 |
Free Cash Flow | 230.22 | 261.69 | 192.49 | 1,175.66 | 828.20 | 614.68 | 649.20 | 685.66 | 724.17 | 764.84 |
WACC | ||||||||||
PV LFCF | 571 | 560.21 | 549.63 | 539.24 | 529.06 | |||||
SUM PV LFCF | 2,749.13 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.65 |
Free cash flow (t + 1) | 780.14 |
Terminal Value | 13,807.79 |
Present Value of Terminal Value | 9,551.11 |
Intrinsic Value
Enterprise Value | 12,300.24 |
---|---|
Net Debt | -95.10 |
Equity Value | 12,395.34 |
Shares Outstanding | 20.60 |
Equity Value Per Share | 601.72 |