Discounted Cash Flow (DCF) Analysis Levered

Ecovyst Inc. (ECVT)

$9.47

+0.09 (+0.96%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.38 | 9.47 | 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 1,472.101,608.151,567.071,107.36611.20508.13422.44351.20291.98242.74
Revenue (%)
Operating Cash Flow 116.06248.64267.76151.05129.9076.5563.6452.9143.9936.57
Operating Cash Flow (%)
Capital Expenditure -140.48-131.69-127.64-97.10-60-45.19-37.57-31.23-25.96-21.59
Capital Expenditure (%)
Free Cash Flow -24.42116.96140.1253.9569.9031.3726.0821.6818.0214.98

Weighted Average Cost Of Capital

Share price $ 9.47
Beta 0.767
Diluted Shares Outstanding 136.45
Cost of Debt
Tax Rate 87.05
After-tax Cost of Debt 0.53%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.508
Total Debt 911.80
Total Equity 1,292.19
Total Capital 2,203.99
Debt Weighting 41.37
Equity Weighting 58.63
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 1,472.101,608.151,567.071,107.36611.20508.13422.44351.20291.98242.74
Operating Cash Flow 116.06248.64267.76151.05129.9076.5563.6452.9143.9936.57
Capital Expenditure -140.48-131.69-127.64-97.10-60-45.19-37.57-31.23-25.96-21.59
Free Cash Flow -24.42116.96140.1253.9569.9031.3726.0821.6818.0214.98
WACC
PV LFCF 30.1524.1019.2615.3912.30
SUM PV LFCF 101.19

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.03
Free cash flow (t + 1) 15.28
Terminal Value 752.88
Present Value of Terminal Value 617.92

Intrinsic Value

Enterprise Value 719.11
Net Debt 770.90
Equity Value -51.79
Shares Outstanding 136.45
Equity Value Per Share -0.38