Discounted Cash Flow (DCF) Analysis Levered

Entravision Communications Corporat... (EVC)

$4.65

+0.16 (+3.56%)
All numbers are in Millions, Currency in USD
Stock DCF: 287.99 | 4.65 | undervalue

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 536.03297.82273.58344.03760.19939.111,160.131,433.161,770.462,187.15
Revenue (%)
Operating Cash Flow 301.5233.8031.5463.4565.25199.38246.30304.27375.88464.35
Operating Cash Flow (%)
Capital Expenditure -44.67-20.16-27.58-9.220.94-52.10-64.36-79.51-98.22-121.34
Capital Expenditure (%)
Free Cash Flow 256.8513.643.9654.2366.19147.28181.94224.76277.66343.01

Weighted Average Cost Of Capital

Share price $ 4.65
Beta 0.750
Diluted Shares Outstanding 84.23
Cost of Debt
Tax Rate 34.65
After-tax Cost of Debt -1.91%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.473
Total Debt 240.61
Total Equity 391.68
Total Capital 632.29
Debt Weighting 38.05
Equity Weighting 61.95
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 536.03297.82273.58344.03760.19939.111,160.131,433.161,770.462,187.15
Operating Cash Flow 301.5233.8031.5463.4565.25199.38246.30304.27375.88464.35
Capital Expenditure -44.67-20.16-27.58-9.220.94-52.10-64.36-79.51-98.22-121.34
Free Cash Flow 256.8513.643.9654.2366.19147.28181.94224.76277.66343.01
WACC
PV LFCF 142.60170.57204.02244.03291.89
SUM PV LFCF 1,053.11

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.28
Free cash flow (t + 1) 349.87
Terminal Value 27,333.22
Present Value of Terminal Value 23,260

Intrinsic Value

Enterprise Value 24,313.11
Net Debt 55.52
Equity Value 24,257.59
Shares Outstanding 84.23
Equity Value Per Share 287.99