Discounted Cash Flow (DCF) Analysis Levered
Enerflex Ltd. (EFX.TO)
$6.36
0.00 (0.00%)
All numbers are in Millions, Currency in USD
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 | 1,553.36 | 1,703.27 | 2,045.42 | 1,217.05 | 960.16 | 883.66 | 813.26 | 748.47 | 688.84 | 633.96 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 179.25 | 242.87 | 54.17 | 220.25 | 225.15 | 123.70 | 113.85 | 104.78 | 96.43 | 88.75 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -57.65 | -132.24 | -263.39 | -133.75 | -57.34 | -73.02 | -67.20 | -61.84 | -56.92 | -52.38 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 121.60 | 110.62 | -209.22 | 86.49 | 167.81 | 50.69 | 46.65 | 42.93 | 39.51 | 36.36 |
Weighted Average Cost Of Capital
Share price | $ 6.36 |
---|---|
Beta | 1.402 |
Diluted Shares Outstanding | 89.68 |
Cost of Debt | |
Tax Rate | 148.44 |
After-tax Cost of Debt | -2.53% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.443 |
Total Debt | 388.44 |
Total Equity | 570.36 |
Total Capital | 958.79 |
Debt Weighting | 40.51 |
Equity Weighting | 59.49 |
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 | 1,553.36 | 1,703.27 | 2,045.42 | 1,217.05 | 960.16 | 883.66 | 813.26 | 748.47 | 688.84 | 633.96 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 179.25 | 242.87 | 54.17 | 220.25 | 225.15 | 123.70 | 113.85 | 104.78 | 96.43 | 88.75 |
Capital Expenditure | -57.65 | -132.24 | -263.39 | -133.75 | -57.34 | -73.02 | -67.20 | -61.84 | -56.92 | -52.38 |
Free Cash Flow | 121.60 | 110.62 | -209.22 | 86.49 | 167.81 | 50.69 | 46.65 | 42.93 | 39.51 | 36.36 |
WACC | ||||||||||
PV LFCF | 38.72 | 34.07 | 29.98 | 26.38 | 23.21 | |||||
SUM PV LFCF | 190.70 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.59 |
Free cash flow (t + 1) | 37.09 |
Terminal Value | 1,432.05 |
Present Value of Terminal Value | 1,144.21 |
Intrinsic Value
Enterprise Value | 1,334.91 |
---|---|
Net Debt | 215.68 |
Equity Value | 1,119.23 |
Shares Outstanding | 89.68 |
Equity Value Per Share | 12.48 |