Discounted Cash Flow (DCF) Analysis Levered
DICK'S Sporting Goods, Inc. (DKS)
$135.025
-0.73 (-0.53%)
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 | 8,590.47 | 8,436.57 | 8,750.74 | 9,584.02 | 12,293.37 | 13,514.23 | 14,856.33 | 16,331.72 | 17,953.63 | 19,736.62 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 746.31 | 712.76 | 404.61 | 1,552.77 | 1,616.87 | 1,381.53 | 1,518.73 | 1,669.55 | 1,835.36 | 2,017.63 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -474.35 | -198.22 | -217.46 | -224.03 | -308.26 | -410.87 | -451.67 | -496.53 | -545.84 | -600.05 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 271.96 | 514.54 | 187.15 | 1,328.74 | 1,308.61 | 970.66 | 1,067.05 | 1,173.02 | 1,289.52 | 1,417.58 |
Weighted Average Cost Of Capital
| Share price | $ 135.025 |
|---|---|
| Beta | 1.433 |
| Diluted Shares Outstanding | 109.58 |
| Cost of Debt | |
| Tax Rate | 23.79 |
| After-tax Cost of Debt | 0.98% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.382 |
| Total Debt | 4,510.19 |
| Total Equity | 14,795.77 |
| Total Capital | 19,305.96 |
| Debt Weighting | 23.36 |
| Equity Weighting | 76.64 |
| 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 | 8,590.47 | 8,436.57 | 8,750.74 | 9,584.02 | 12,293.37 | 13,514.23 | 14,856.33 | 16,331.72 | 17,953.63 | 19,736.62 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 746.31 | 712.76 | 404.61 | 1,552.77 | 1,616.87 | 1,381.53 | 1,518.73 | 1,669.55 | 1,835.36 | 2,017.63 |
| Capital Expenditure | -474.35 | -198.22 | -217.46 | -224.03 | -308.26 | -410.87 | -451.67 | -496.53 | -545.84 | -600.05 |
| Free Cash Flow | 271.96 | 514.54 | 187.15 | 1,328.74 | 1,308.61 | 970.66 | 1,067.05 | 1,173.02 | 1,289.52 | 1,417.58 |
| WACC | ||||||||||
| PV LFCF | 605.60 | 615.40 | 625.36 | 635.48 | 645.77 | |||||
| SUM PV LFCF | 4,633.91 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.18 |
| Free cash flow (t + 1) | 1,445.93 |
| Terminal Value | 23,396.94 |
| Present Value of Terminal Value | 15,791.53 |
Intrinsic Value
| Enterprise Value | 20,425.44 |
|---|---|
| Net Debt | 1,866.99 |
| Equity Value | 18,558.45 |
| Shares Outstanding | 109.58 |
| Equity Value Per Share | 169.36 |