Discounted Cash Flow (DCF) Analysis Levered
Forterra, Inc. (FRTA)
$24
0.00 (0.00%)
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 | 1,580.41 | 1,479.71 | 1,529.75 | 1,594.51 | 1,858.30 | 1,940.93 | 2,027.24 | 2,117.39 | 2,211.54 | 2,309.88 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 42.33 | 27.20 | 146.79 | 243.20 | 100.50 | 134.98 | 140.98 | 147.25 | 153.80 | 160.64 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -52.51 | -50.61 | -53.71 | -34.02 | -65.60 | -61.79 | -64.54 | -67.41 | -70.40 | -73.54 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -10.18 | -23.41 | 93.08 | 209.18 | 34.90 | 73.19 | 76.45 | 79.85 | 83.40 | 87.10 |
Weighted Average Cost Of Capital
Share price | $ 24 |
---|---|
Beta | 2.192 |
Diluted Shares Outstanding | 69.64 |
Cost of Debt | |
Tax Rate | 24.97 |
After-tax Cost of Debt | 5.19% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 14.084 |
Total Debt | 1,084.50 |
Total Equity | 1,671.46 |
Total Capital | 2,755.96 |
Debt Weighting | 39.35 |
Equity Weighting | 60.65 |
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 | 1,580.41 | 1,479.71 | 1,529.75 | 1,594.51 | 1,858.30 | 1,940.93 | 2,027.24 | 2,117.39 | 2,211.54 | 2,309.88 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 42.33 | 27.20 | 146.79 | 243.20 | 100.50 | 134.98 | 140.98 | 147.25 | 153.80 | 160.64 |
Capital Expenditure | -52.51 | -50.61 | -53.71 | -34.02 | -65.60 | -61.79 | -64.54 | -67.41 | -70.40 | -73.54 |
Free Cash Flow | -10.18 | -23.41 | 93.08 | 209.18 | 34.90 | 73.19 | 76.45 | 79.85 | 83.40 | 87.10 |
WACC | ||||||||||
PV LFCF | 66.18 | 62.51 | 59.03 | 55.75 | 52.66 | |||||
SUM PV LFCF | 296.14 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 10.59 |
Free cash flow (t + 1) | 88.85 |
Terminal Value | 1,034.30 |
Present Value of Terminal Value | 625.27 |
Intrinsic Value
Enterprise Value | 921.41 |
---|---|
Net Debt | 1,027.70 |
Equity Value | -106.29 |
Shares Outstanding | 69.64 |
Equity Value Per Share | -1.53 |