Discounted Cash Flow (DCF) Analysis Levered
Flotek Industries, Inc. (FTK)
$1.22
-0.07 (-5.43%)
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 | 317.10 | 177.77 | 119.35 | 53.14 | 43.27 | 26.95 | 16.79 | 10.46 | 6.51 | 4.06 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 16.45 | -19.52 | -19.09 | -47.84 | -25.84 | -9.25 | -5.76 | -3.59 | -2.23 | -1.39 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -9.44 | -5.16 | -3.03 | -1.43 | -0.04 | -0.60 | -0.38 | -0.23 | -0.15 | -0.09 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 7.01 | -24.68 | -22.12 | -49.27 | -25.88 | -9.85 | -6.13 | -3.82 | -2.38 | -1.48 |
Weighted Average Cost Of Capital
| Share price | $ 1.22 |
|---|---|
| Beta | 1.754 |
| Diluted Shares Outstanding | 73.36 |
| Cost of Debt | |
| Tax Rate | 0.13 |
| After-tax Cost of Debt | 0.59% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.940 |
| Total Debt | 13.26 |
| Total Equity | 89.50 |
| Total Capital | 102.76 |
| Debt Weighting | 12.91 |
| Equity Weighting | 87.09 |
| 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 | 317.10 | 177.77 | 119.35 | 53.14 | 43.27 | 26.95 | 16.79 | 10.46 | 6.51 | 4.06 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 16.45 | -19.52 | -19.09 | -47.84 | -25.84 | -9.25 | -5.76 | -3.59 | -2.23 | -1.39 |
| Capital Expenditure | -9.44 | -5.16 | -3.03 | -1.43 | -0.04 | -0.60 | -0.38 | -0.23 | -0.15 | -0.09 |
| Free Cash Flow | 7.01 | -24.68 | -22.12 | -49.27 | -25.88 | -9.85 | -6.13 | -3.82 | -2.38 | -1.48 |
| WACC | ||||||||||
| PV LFCF | -8.92 | -5.03 | -2.83 | -1.60 | -0.90 | |||||
| SUM PV LFCF | -19.28 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.47 |
| Free cash flow (t + 1) | -1.51 |
| Terminal Value | -17.85 |
| Present Value of Terminal Value | -10.85 |
Intrinsic Value
| Enterprise Value | -30.13 |
|---|---|
| Net Debt | 1.73 |
| Equity Value | -31.86 |
| Shares Outstanding | 73.36 |
| Equity Value Per Share | -0.43 |