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
Stock DCF: 169.36 | 135.025 | undervalue

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 8,590.478,436.578,750.749,584.0212,293.3713,514.2314,856.3316,331.7217,953.6319,736.62
Revenue (%)
Operating Cash Flow 746.31712.76404.611,552.771,616.871,381.531,518.731,669.551,835.362,017.63
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 271.96514.54187.151,328.741,308.61970.661,067.051,173.021,289.521,417.58

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 8,590.478,436.578,750.749,584.0212,293.3713,514.2314,856.3316,331.7217,953.6319,736.62
Operating Cash Flow 746.31712.76404.611,552.771,616.871,381.531,518.731,669.551,835.362,017.63
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 271.96514.54187.151,328.741,308.61970.661,067.051,173.021,289.521,417.58
WACC
PV LFCF 605.60615.40625.36635.48645.77
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