Discounted Cash Flow (DCF) Analysis Levered
GoDaddy Inc. (GDDY)
$73.6
+2.85 (+4.03%)
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 | 2,231.90 | 2,660.10 | 2,988.10 | 3,316.70 | 3,815.70 | 4,364.76 | 4,992.82 | 5,711.26 | 6,533.08 | 7,473.16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 475.60 | 559.80 | 723.40 | 764.60 | 829.30 | 972.03 | 1,111.90 | 1,271.90 | 1,454.92 | 1,664.27 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -135.20 | -97 | -92.30 | -81.50 | -253.20 | -191.05 | -218.55 | -249.99 | -285.97 | -327.12 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 340.40 | 462.80 | 631.10 | 683.10 | 576.10 | 780.98 | 893.35 | 1,021.90 | 1,168.95 | 1,337.15 |
Weighted Average Cost Of Capital
| Share price | $ 73.6 |
|---|---|
| Beta | 0.960 |
| Diluted Shares Outstanding | 171.10 |
| Cost of Debt | |
| Tax Rate | 4.46 |
| After-tax Cost of Debt | 2.96% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.286 |
| Total Debt | 4,061.90 |
| Total Equity | 12,593.33 |
| Total Capital | 16,655.23 |
| Debt Weighting | 24.39 |
| Equity Weighting | 75.61 |
| 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 | 2,231.90 | 2,660.10 | 2,988.10 | 3,316.70 | 3,815.70 | 4,364.76 | 4,992.82 | 5,711.26 | 6,533.08 | 7,473.16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 475.60 | 559.80 | 723.40 | 764.60 | 829.30 | 972.03 | 1,111.90 | 1,271.90 | 1,454.92 | 1,664.27 |
| Capital Expenditure | -135.20 | -97 | -92.30 | -81.50 | -253.20 | -191.05 | -218.55 | -249.99 | -285.97 | -327.12 |
| Free Cash Flow | 340.40 | 462.80 | 631.10 | 683.10 | 576.10 | 780.98 | 893.35 | 1,021.90 | 1,168.95 | 1,337.15 |
| WACC | ||||||||||
| PV LFCF | 543.44 | 585.19 | 630.13 | 678.53 | 730.65 | |||||
| SUM PV LFCF | 4,285.62 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.23 |
| Free cash flow (t + 1) | 1,363.90 |
| Terminal Value | 32,243.44 |
| Present Value of Terminal Value | 23,834.47 |
Intrinsic Value
| Enterprise Value | 28,120.08 |
|---|---|
| Net Debt | 2,806.20 |
| Equity Value | 25,313.88 |
| Shares Outstanding | 171.10 |
| Equity Value Per Share | 147.94 |