Discounted Cash Flow (DCF) Analysis Levered

Destination XL Group, Inc. (DXLG)

$4.18

+0.18 (+4.50%)
All numbers are in Millions, Currency in USD
Stock DCF: 8.84 | 4.18 | 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 473.76474.04318.95505.02545.84591.91641.88696.06754.82818.53
Revenue (%)
Operating Cash Flow 15.7415.80-1.2375.5459.9438.1341.3544.8448.6352.73
Operating Cash Flow (%)
Capital Expenditure -12.96-13.40-4.24-5.27-9.64-11.49-12.46-13.51-14.65-15.88
Capital Expenditure (%)
Free Cash Flow 2.782.40-5.4770.2750.3026.6528.9031.3333.9836.85

Weighted Average Cost Of Capital

Share price $ 4.18
Beta 1.379
Diluted Shares Outstanding 66.89
Cost of Debt
Tax Rate -52.78
After-tax Cost of Debt 0.17%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.319
Total Debt 144.24
Total Equity 279.60
Total Capital 423.84
Debt Weighting 34.03
Equity Weighting 65.97
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 473.76474.04318.95505.02545.84591.91641.88696.06754.82818.53
Operating Cash Flow 15.7415.80-1.2375.5459.9438.1341.3544.8448.6352.73
Capital Expenditure -12.96-13.40-4.24-5.27-9.64-11.49-12.46-13.51-14.65-15.88
Free Cash Flow 2.782.40-5.4770.2750.3026.6528.9031.3333.9836.85
WACC
PV LFCF 24.9425.3025.6826.0626.44
SUM PV LFCF 128.42

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.86
Free cash flow (t + 1) 37.58
Terminal Value 773.34
Present Value of Terminal Value 555

Intrinsic Value

Enterprise Value 683.43
Net Debt 92.17
Equity Value 591.26
Shares Outstanding 66.89
Equity Value Per Share 8.84