Discounted Cash Flow (DCF) Analysis Levered
Dycom Industries, Inc. (DY)
$91.73
-0.24 (-0.26%)
All numbers are in Millions, Currency in USD
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 | 3,127.70 | 3,339.68 | 3,199.17 | 3,130.52 | 3,808.46 | 4,018.69 | 4,240.53 | 4,474.61 | 4,721.61 | 4,982.24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 124.45 | 58 | 381.78 | 308.65 | 164.79 | 255.88 | 270 | 284.90 | 300.63 | 317.23 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -164.96 | -120.57 | -58.05 | -157.04 | -200.95 | -168.72 | -178.03 | -187.86 | -198.23 | -209.18 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -40.52 | -62.58 | 323.73 | 151.61 | -36.17 | 87.15 | 91.96 | 97.04 | 102.40 | 108.05 |
Weighted Average Cost Of Capital
| Share price | $ 91.73 |
|---|---|
| Beta | 1.325 |
| Diluted Shares Outstanding | 30 |
| Cost of Debt | |
| Tax Rate | 21.05 |
| After-tax Cost of Debt | 3.59% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.694 |
| Total Debt | 892.02 |
| Total Equity | 2,751.59 |
| Total Capital | 3,643.61 |
| Debt Weighting | 24.48 |
| Equity Weighting | 75.52 |
| 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 | 3,127.70 | 3,339.68 | 3,199.17 | 3,130.52 | 3,808.46 | 4,018.69 | 4,240.53 | 4,474.61 | 4,721.61 | 4,982.24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 124.45 | 58 | 381.78 | 308.65 | 164.79 | 255.88 | 270 | 284.90 | 300.63 | 317.23 |
| Capital Expenditure | -164.96 | -120.57 | -58.05 | -157.04 | -200.95 | -168.72 | -178.03 | -187.86 | -198.23 | -209.18 |
| Free Cash Flow | -40.52 | -62.58 | 323.73 | 151.61 | -36.17 | 87.15 | 91.96 | 97.04 | 102.40 | 108.05 |
| WACC | ||||||||||
| PV LFCF | 79.99 | 77.46 | 75.02 | 72.65 | 70.35 | |||||
| SUM PV LFCF | 375.47 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.96 |
| Free cash flow (t + 1) | 110.21 |
| Terminal Value | 1,583.50 |
| Present Value of Terminal Value | 1,031.06 |
Intrinsic Value
| Enterprise Value | 1,406.52 |
|---|---|
| Net Debt | 667.84 |
| Equity Value | 738.69 |
| Shares Outstanding | 30 |
| Equity Value Per Share | 24.63 |