Discounted Cash Flow (DCF) Analysis Levered

SPX FLOW, Inc. (FLOW)

$86.49

+0.18 (+0.21%)
All numbers are in Millions, Currency in USD
Stock DCF: 18.58 | 86.49 | overvalue

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 1,951.502,090.101,506.601,350.601,5291,460.351,394.771,332.151,272.331,215.20
Revenue (%)
Operating Cash Flow 205105.60173.30112.7070.60116.89111.64106.63101.8497.27
Operating Cash Flow (%)
Capital Expenditure -19.40-25.50-28.50-22.40-32.60-23.06-22.03-21.04-20.09-19.19
Capital Expenditure (%)
Free Cash Flow 185.6080.10144.8090.303893.8389.6185.5981.7578.08

Weighted Average Cost Of Capital

Share price $ 86.49
Beta 1.604
Diluted Shares Outstanding 41.96
Cost of Debt
Tax Rate 44.37
After-tax Cost of Debt 2.11%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.535
Total Debt 422.10
Total Equity 3,629.03
Total Capital 4,051.13
Debt Weighting 10.42
Equity Weighting 89.58
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 1,951.502,090.101,506.601,350.601,5291,460.351,394.771,332.151,272.331,215.20
Operating Cash Flow 205105.60173.30112.7070.60116.89111.64106.63101.8497.27
Capital Expenditure -19.40-25.50-28.50-22.40-32.60-23.06-22.03-21.04-20.09-19.19
Free Cash Flow 185.6080.10144.8090.303893.8389.6185.5981.7578.08
WACC
PV LFCF 84.8773.3363.3554.7347.29
SUM PV LFCF 323.57

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.55
Free cash flow (t + 1) 79.64
Terminal Value 931.45
Present Value of Terminal Value 564.11

Intrinsic Value

Enterprise Value 887.68
Net Debt 108.20
Equity Value 779.48
Shares Outstanding 41.96
Equity Value Per Share 18.58