Discounted Cash Flow (DCF) Analysis Levered
Envestnet, Inc. (ENV)
$43.16
-1.50 (-3.36%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 812.36 | 900.13 | 998.23 | 1,186.52 | 1,239.78 | 1,379.43 | 1,534.80 | 1,707.67 | 1,900.01 | 2,114.02 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 117.38 | 108.73 | 169.84 | 250.58 | 117.04 | 204.43 | 227.46 | 253.08 | 281.59 | 313.30 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -44.59 | -53.94 | -67 | -117.42 | -124.33 | -105.16 | -117.01 | -130.18 | -144.85 | -161.16 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 72.79 | 54.78 | 102.84 | 133.16 | -7.29 | 99.27 | 110.46 | 122.90 | 136.74 | 152.14 |
Weighted Average Cost Of Capital
Share price | $ 43.16 |
---|---|
Beta | 1.259 |
Diluted Shares Outstanding | 56.84 |
Cost of Debt | |
Tax Rate | -9.00 |
After-tax Cost of Debt | -1.62% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.541 |
Total Debt | 1,039.26 |
Total Equity | 2,453.31 |
Total Capital | 3,492.56 |
Debt Weighting | 29.76 |
Equity Weighting | 70.24 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 812.36 | 900.13 | 998.23 | 1,186.52 | 1,239.78 | 1,379.43 | 1,534.80 | 1,707.67 | 1,900.01 | 2,114.02 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 117.38 | 108.73 | 169.84 | 250.58 | 117.04 | 204.43 | 227.46 | 253.08 | 281.59 | 313.30 |
Capital Expenditure | -44.59 | -53.94 | -67 | -117.42 | -124.33 | -105.16 | -117.01 | -130.18 | -144.85 | -161.16 |
Free Cash Flow | 72.79 | 54.78 | 102.84 | 133.16 | -7.29 | 99.27 | 110.46 | 122.90 | 136.74 | 152.14 |
WACC | ||||||||||
PV LFCF | 92.85 | 96.62 | 100.55 | 104.63 | 108.88 | |||||
SUM PV LFCF | 503.53 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.92 |
Free cash flow (t + 1) | 155.18 |
Terminal Value | 3,154.14 |
Present Value of Terminal Value | 2,257.29 |
Intrinsic Value
Enterprise Value | 2,760.81 |
---|---|
Net Debt | 877.08 |
Equity Value | 1,883.73 |
Shares Outstanding | 56.84 |
Equity Value Per Share | 33.14 |