Discounted Cash Flow (DCF) Analysis Levered

G-III Apparel Group, Ltd. (GIII)

$14.23

-0.09 (-0.63%)
All numbers are in Millions, Currency in USD
Stock DCF: 26.98 | 14.23 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 3,076.213,160.462,055.152,766.543,226.733,380.123,540.803,709.123,885.444,070.15
Revenue (%)
Operating Cash Flow 103.83209.0274.76185.80164.10171.90180.07188.63197.60206.99
Operating Cash Flow (%)
Capital Expenditure -29.20-40.09-20.13-31.51-34.98-36.64-38.38-40.21-42.12-44.12
Capital Expenditure (%)
Free Cash Flow 74.62168.9354.63154.29129.12135.26141.69148.42155.48162.87

Weighted Average Cost Of Capital

Share price $ 14.23
Beta 2.656
Diluted Shares Outstanding 47.65
Cost of Debt
Tax Rate 3.70
After-tax Cost of Debt 4.82%
Risk-Free Rate
Market Risk Premium
Cost of Equity 15.914
Total Debt 619.36
Total Equity 678.10
Total Capital 1,297.46
Debt Weighting 47.74
Equity Weighting 52.26
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 3,076.213,160.462,055.152,766.543,226.733,380.123,540.803,709.123,885.444,070.15
Operating Cash Flow 103.83209.0274.76185.80164.10171.90180.07188.63197.60206.99
Capital Expenditure -29.20-40.09-20.13-31.51-34.98-36.64-38.38-40.21-42.12-44.12
Free Cash Flow 74.62168.9354.63154.29129.12135.26141.69148.42155.48162.87
WACC
PV LFCF 99.9294.6289.6084.8580.35
SUM PV LFCF 549.87

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.62
Free cash flow (t + 1) 166.13
Terminal Value 1,927.22
Present Value of Terminal Value 1,163.49

Intrinsic Value

Enterprise Value 1,713.35
Net Debt 427.71
Equity Value 1,285.65
Shares Outstanding 47.65
Equity Value Per Share 26.98