Discounted Cash Flow (DCF) Analysis Levered
Five Below, Inc. (FIVE)
$200.155
+0.14 (+0.07%)
All numbers are in Millions, Currency in USD
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 | 1,559.56 | 1,846.73 | 1,962.14 | 2,848.35 | 3,076.30 | 3,674.88 | 4,389.93 | 5,244.12 | 6,264.50 | 7,483.44 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 184.13 | 187.03 | 365.97 | 327.91 | 314.93 | 458.15 | 547.29 | 653.79 | 781 | 932.96 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -113.72 | -212.30 | -200.19 | -288.17 | -251.95 | -347.62 | -415.26 | -496.07 | -592.59 | -707.89 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 70.41 | -25.27 | 165.78 | 39.74 | 62.97 | 110.52 | 132.03 | 157.72 | 188.41 | 225.07 |
Weighted Average Cost Of Capital
Share price | $ 200.155 |
---|---|
Beta | 1.152 |
Diluted Shares Outstanding | 55.75 |
Cost of Debt | |
Tax Rate | 24.75 |
After-tax Cost of Debt | 0.13% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.935 |
Total Debt | 1,496.75 |
Total Equity | 11,157.70 |
Total Capital | 12,654.45 |
Debt Weighting | 11.83 |
Equity Weighting | 88.17 |
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 | 1,559.56 | 1,846.73 | 1,962.14 | 2,848.35 | 3,076.30 | 3,674.88 | 4,389.93 | 5,244.12 | 6,264.50 | 7,483.44 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 184.13 | 187.03 | 365.97 | 327.91 | 314.93 | 458.15 | 547.29 | 653.79 | 781 | 932.96 |
Capital Expenditure | -113.72 | -212.30 | -200.19 | -288.17 | -251.95 | -347.62 | -415.26 | -496.07 | -592.59 | -707.89 |
Free Cash Flow | 70.41 | -25.27 | 165.78 | 39.74 | 62.97 | 110.52 | 132.03 | 157.72 | 188.41 | 225.07 |
WACC | ||||||||||
PV LFCF | 102.44 | 113.43 | 125.59 | 139.05 | 153.96 | |||||
SUM PV LFCF | 634.47 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.89 |
Free cash flow (t + 1) | 229.57 |
Terminal Value | 3,897.64 |
Present Value of Terminal Value | 2,666.22 |
Intrinsic Value
Enterprise Value | 3,300.68 |
---|---|
Net Debt | 1,164.43 |
Equity Value | 2,136.26 |
Shares Outstanding | 55.75 |
Equity Value Per Share | 38.32 |