Discounted Cash Flow (DCF) Analysis Levered
Dine Brands Global, Inc. (DIN)
$61.78
+0.71 (+1.16%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 780.93 | 910.18 | 689.27 | 896.17 | 909.40 | 963.45 | 1,020.71 | 1,081.38 | 1,145.65 | 1,213.74 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 140.35 | 155.18 | 96.50 | 195.84 | 89.34 | 155.50 | 164.74 | 174.53 | 184.90 | 195.89 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -14.28 | -19.42 | -10.93 | -16.85 | -35.32 | -21.80 | -23.09 | -24.46 | -25.92 | -27.46 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 126.07 | 135.76 | 85.58 | 178.99 | 54.02 | 133.70 | 141.65 | 150.07 | 158.98 | 168.43 |
Weighted Average Cost Of Capital
Share price | $ 61.78 |
---|---|
Beta | 1.852 |
Diluted Shares Outstanding | 15.90 |
Cost of Debt | |
Tax Rate | 29.34 |
After-tax Cost of Debt | 2.47% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 12.438 |
Total Debt | 1,742.38 |
Total Equity | 982.36 |
Total Capital | 2,724.75 |
Debt Weighting | 63.95 |
Equity Weighting | 36.05 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 780.93 | 910.18 | 689.27 | 896.17 | 909.40 | 963.45 | 1,020.71 | 1,081.38 | 1,145.65 | 1,213.74 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 140.35 | 155.18 | 96.50 | 195.84 | 89.34 | 155.50 | 164.74 | 174.53 | 184.90 | 195.89 |
Capital Expenditure | -14.28 | -19.42 | -10.93 | -16.85 | -35.32 | -21.80 | -23.09 | -24.46 | -25.92 | -27.46 |
Free Cash Flow | 126.07 | 135.76 | 85.58 | 178.99 | 54.02 | 133.70 | 141.65 | 150.07 | 158.98 | 168.43 |
WACC | ||||||||||
PV LFCF | 126.06 | 125.92 | 125.78 | 125.65 | 125.51 | |||||
SUM PV LFCF | 628.92 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.06 |
Free cash flow (t + 1) | 171.80 |
Terminal Value | 4,231.58 |
Present Value of Terminal Value | 3,153.15 |
Intrinsic Value
Enterprise Value | 3,782.07 |
---|---|
Net Debt | 1,472.73 |
Equity Value | 2,309.34 |
Shares Outstanding | 15.90 |
Equity Value Per Share | 145.23 |