Discounted Cash Flow (DCF) Analysis Levered
SPX FLOW, Inc. (FLOW)
$86.49
+0.18 (+0.21%)
All numbers are in Millions, Currency in USD
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 | 1,951.50 | 2,090.10 | 1,506.60 | 1,350.60 | 1,529 | 1,460.35 | 1,394.77 | 1,332.15 | 1,272.33 | 1,215.20 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 205 | 105.60 | 173.30 | 112.70 | 70.60 | 116.89 | 111.64 | 106.63 | 101.84 | 97.27 |
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 | 185.60 | 80.10 | 144.80 | 90.30 | 38 | 93.83 | 89.61 | 85.59 | 81.75 | 78.08 |
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 | 10.395 |
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 | 1,951.50 | 2,090.10 | 1,506.60 | 1,350.60 | 1,529 | 1,460.35 | 1,394.77 | 1,332.15 | 1,272.33 | 1,215.20 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 205 | 105.60 | 173.30 | 112.70 | 70.60 | 116.89 | 111.64 | 106.63 | 101.84 | 97.27 |
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 | 185.60 | 80.10 | 144.80 | 90.30 | 38 | 93.83 | 89.61 | 85.59 | 81.75 | 78.08 |
WACC | ||||||||||
PV LFCF | 54.34 | 47.39 | 41.32 | 36.03 | 31.42 | |||||
SUM PV LFCF | 331.83 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.53 |
Free cash flow (t + 1) | 79.64 |
Terminal Value | 1,057.62 |
Present Value of Terminal Value | 670.91 |
Intrinsic Value
Enterprise Value | 1,002.74 |
---|---|
Net Debt | 108.20 |
Equity Value | 894.54 |
Shares Outstanding | 41.96 |
Equity Value Per Share | 21.32 |