Discounted Cash Flow (DCF) Analysis Levered
Domino's Pizza, Inc. (DPZ)
$289.85
-1.54 (-0.53%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 3,432.87 | 3,618.77 | 3,814.75 | 4,021.34 | 4,239.11 | 4,468.68 | 4,710.68 | 4,965.79 | 5,234.71 | 5,518.20 | 5,817.04 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | 394.17 | 496.95 | 480.94 | 506.99 | 534.44 | 563.39 | 593.90 | 626.06 | 659.96 | 695.70 | 733.38 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -119.89 | -85.57 | -111.71 | -117.76 | -124.14 | -130.86 | -137.95 | -145.42 | -153.29 | -161.60 | -170.35 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | 274.28 | 411.38 | 369.23 | 389.22 | 410.30 | 432.52 | 455.95 | 480.64 | 506.67 | 534.11 | 563.03 |
Weighted Average Cost Of Capital
| Share price | $ 289.85 |
|---|---|
| Beta | 0.788 |
| Diluted Shares Outstanding | 36.09 |
| Cost of Debt | |
| Tax Rate | 21.05 |
| After-tax Cost of Debt | 2.98% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.357 |
| Total Debt | 5,252.35 |
| Total Equity | 10,461.77 |
| Total Capital | 15,714.13 |
| Debt Weighting | 33.42 |
| Equity Weighting | 66.58 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 3,432.87 | 3,618.77 | 3,814.75 | 4,021.34 | 4,239.11 | 4,468.68 | 4,710.68 | 4,965.79 | 5,234.71 | 5,518.20 | 5,817.04 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 394.17 | 496.95 | 480.94 | 506.99 | 534.44 | 563.39 | 593.90 | 626.06 | 659.96 | 695.70 | 733.38 |
| Capital Expenditure | -119.89 | -85.57 | -111.71 | -117.76 | -124.14 | -130.86 | -137.95 | -145.42 | -153.29 | -161.60 | -170.35 |
| Free Cash Flow | 274.28 | 411.38 | 369.23 | 389.22 | 410.30 | 432.52 | 455.95 | 480.64 | 506.67 | 534.11 | 563.03 |
| WACC | |||||||||||
| PV LFCF | 414.01 | 412.15 | 410.30 | 408.46 | 406.63 | 404.81 | 403 | 401.19 | 399.39 | ||
| SUM PV LFCF | 2,133.72 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.89 |
| Free cash flow (t + 1) | 574.29 |
| Terminal Value | 14,763.27 |
| Present Value of Terminal Value | 11,089.40 |
Intrinsic Value
| Enterprise Value | 13,223.11 |
|---|---|
| Net Debt | 5,192 |
| Equity Value | 8,031.12 |
| Shares Outstanding | 36.09 |
| Equity Value Per Share | 222.51 |