Discounted Cash Flow (DCF) Analysis Levered

The Dixie Group, Inc. (DXYN)

$1.17

-0.02 (-1.68%)

All numbers are in Millions, Currency in USD

Stock DCF: -11.94 | 1.17 | overvalue

Free Cash Flow

Year A/P	2017 Actual	2018 Actual	2019 Actual	2020 Actual	2021 Actual	2022 Projected	2023 Projected	2024 Projected	2025 Projected	2026 Projected
Revenue	412.46	405.03	374.58	315.94	341.25	326.77	312.92	299.64	286.94	274.77
Revenue (%)
Operating Cash Flow	-9.61	5.10	11.69	13.55	-6.64	2.87	2.75	2.63	2.52	2.41
Operating Cash Flow (%)
Capital Expenditure	-12.72	-4.05	-4.24	-1.76	-4.38	-4.61	-4.42	-4.23	-4.05	-3.88
Capital Expenditure (%)
Free Cash Flow	-22.33	1.05	7.45	11.79	-11.02	-1.74	-1.67	-1.59	-1.53	-1.46

Weighted Average Cost Of Capital

Share price	$ 1.17
Beta	2.580
Diluted Shares Outstanding	15.25
Cost of Debt
Tax Rate	69.27
After-tax Cost of Debt	1.45%
Risk-Free Rate
Market Risk Premium
Cost of Equity	15.945
Total Debt	100.28
Total Equity	17.84
Total Capital	118.12
Debt Weighting	84.90
Equity Weighting	15.10
Wacc

Build Up Free Cash Flow

Year A/P	2017 Actual	2018 Actual	2019 Actual	2020 Actual	2021 Actual	2022 Projected	2023 Projected	2024 Projected	2025 Projected	2026 Projected
Revenue	412.46	405.03	374.58	315.94	341.25	326.77	312.92	299.64	286.94	274.77
Operating Cash Flow	-9.61	5.10	11.69	13.55	-6.64	2.87	2.75	2.63	2.52	2.41
Capital Expenditure	-12.72	-4.05	-4.24	-1.76	-4.38	-4.61	-4.42	-4.23	-4.05	-3.88
Free Cash Flow	-22.33	1.05	7.45	11.79	-11.02	-1.74	-1.67	-1.59	-1.53	-1.46
WACC
PV LFCF						-1.68	-1.55	-1.43	-1.32	-1.22
SUM PV LFCF										-7.21

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	3.64
Free cash flow (t + 1)	-1.49
Terminal Value	-90.94
Present Value of Terminal Value	-76.06

Intrinsic Value

Enterprise Value	-83.26
Net Debt	98.81
Equity Value	-182.08
Shares Outstanding	15.25
Equity Value Per Share	-11.94