Discounted Cash Flow (DCF) Analysis Levered

Express, Inc. (EXPR)

$1.3

-0.05 (-3.70%)
All numbers are in Millions, Currency in USD
Stock DCF: -198.86 | 1.3 | overvalue

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 2,138.032,116.342,019.191,208.371,870.301,912.461,955.571,999.662,044.742,090.84
Revenue (%)
Operating Cash Flow 118.5773.7290.71-323.6389.38-32.44-33.17-33.92-34.69-35.47
Operating Cash Flow (%)
Capital Expenditure -57.43-49.78-37.04-16.85-34.77-38.73-39.61-40.50-41.41-42.35
Capital Expenditure (%)
Free Cash Flow 61.1323.9453.67-340.4854.61-71.18-72.78-74.42-76.10-77.81

Weighted Average Cost Of Capital

Share price $ 1.3
Beta 1.531
Diluted Shares Outstanding 66.45
Cost of Debt
Tax Rate -2.23
After-tax Cost of Debt 1.76%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.739
Total Debt 862.33
Total Equity 86.38
Total Capital 948.71
Debt Weighting 90.89
Equity Weighting 9.11
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 2,138.032,116.342,019.191,208.371,870.301,912.461,955.571,999.662,044.742,090.84
Operating Cash Flow 118.5773.7290.71-323.6389.38-32.44-33.17-33.92-34.69-35.47
Capital Expenditure -57.43-49.78-37.04-16.85-34.77-38.73-39.61-40.50-41.41-42.35
Free Cash Flow 61.1323.9453.67-340.4854.61-71.18-72.78-74.42-76.10-77.81
WACC
PV LFCF -69.39-69.17-68.95-68.73-68.51
SUM PV LFCF -344.73

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.58
Free cash flow (t + 1) -79.37
Terminal Value -13,684.60
Present Value of Terminal Value -12,048.10

Intrinsic Value

Enterprise Value -12,392.84
Net Debt 821.15
Equity Value -13,213.99
Shares Outstanding 66.45
Equity Value Per Share -198.86