Discounted Cash Flow (DCF) Analysis Levered

Euronet Worldwide, Inc. (EEFT)

$108.8

-0.64 (-0.58%)
All numbers are in Millions, Currency in USD
Stock DCF: 177.52 | 108.8 | 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 2,750.112,482.702,995.443,358.743,6883,990.974,318.844,673.635,057.585,473.06
Revenue (%)
Operating Cash Flow 504.49253.50406.58748.29643.10653.28706.95765.03827.87895.88
Operating Cash Flow (%)
Capital Expenditure -131.29-97.63-92.21-104.26-103.50-141.24-152.84-165.40-178.99-193.69
Capital Expenditure (%)
Free Cash Flow 373.20155.88314.37644.03539.60512.04554.11599.63648.89702.19

Weighted Average Cost Of Capital

Share price $ 108.8
Beta 1.401
Diluted Shares Outstanding 51.60
Cost of Debt
Tax Rate 30.14
After-tax Cost of Debt 2.91%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.772
Total Debt 2,013.40
Total Equity 5,614.04
Total Capital 7,627.44
Debt Weighting 26.40
Equity Weighting 73.60
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 2,750.112,482.702,995.443,358.743,6883,990.974,318.844,673.635,057.585,473.06
Operating Cash Flow 504.49253.50406.58748.29643.10653.28706.95765.03827.87895.88
Capital Expenditure -131.29-97.63-92.21-104.26-103.50-141.24-152.84-165.40-178.99-193.69
Free Cash Flow 373.20155.88314.37644.03539.60512.04554.11599.63648.89702.19
WACC
PV LFCF 310.40309.02307.64306.27304.90
SUM PV LFCF 2,334.38

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.70
Free cash flow (t + 1) 716.24
Terminal Value 10,690.11
Present Value of Terminal Value 7,044.24

Intrinsic Value

Enterprise Value 9,378.62
Net Debt 218.80
Equity Value 9,159.82
Shares Outstanding 51.60
Equity Value Per Share 177.52