Discounted Cash Flow (DCF) Analysis Levered

Dorman Products, Inc. (DORM)

$93.22

-1.00 (-1.06%)
All numbers are in Millions, Currency in USD
Stock DCF: 133.37 | 93.22 | undervalue

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 991.331,092.751,345.251,733.751,929.792,284.502,704.423,201.523,789.994,486.63
Revenue (%)
Operating Cash Flow 95.31151.97100.3441.69208.76201.96239.08283.02335.05396.63
Operating Cash Flow (%)
Capital Expenditure -29.56-15.45-19.84-37.88-43.97-47.22-55.89-66.17-78.33-92.73
Capital Expenditure (%)
Free Cash Flow 65.75136.5280.503.80164.79154.74183.18216.86256.72303.90

Weighted Average Cost Of Capital

Share price $ 93.22
Beta 0.769
Diluted Shares Outstanding 31.53
Cost of Debt
Tax Rate 23.29
After-tax Cost of Debt 6.42%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.789
Total Debt 574.13
Total Equity 2,939.51
Total Capital 3,513.63
Debt Weighting 16.34
Equity Weighting 83.66
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 991.331,092.751,345.251,733.751,929.792,284.502,704.423,201.523,789.994,486.63
Operating Cash Flow 95.31151.97100.3441.69208.76201.96239.08283.02335.05396.63
Capital Expenditure -29.56-15.45-19.84-37.88-43.97-47.22-55.89-66.17-78.33-92.73
Free Cash Flow 65.75136.5280.503.80164.79154.74183.18216.86256.72303.90
WACC
PV LFCF 179.06197.05216.86238.65262.64
SUM PV LFCF 879.11

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.57
Free cash flow (t + 1) 309.98
Terminal Value 5,565.20
Present Value of Terminal Value 3,863.89

Intrinsic Value

Enterprise Value 4,743
Net Debt 537.31
Equity Value 4,205.69
Shares Outstanding 31.53
Equity Value Per Share 133.37