Discounted Cash Flow (DCF) Analysis Levered

Great Lakes Dredge & Dock Corporati... (GLDD)

$8.46

-0.10 (-1.17%)
All numbers are in Millions, Currency in USD
Stock DCF: -10.86 | 8.46 | overvalue

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 711.52733.60726.15648.78589.62563.56538.64514.83492.06470.31
Revenue (%)
Operating Cash Flow 192.5578.9549.011.6560.8462.1559.4156.7854.2751.87
Operating Cash Flow (%)
Capital Expenditure -49.41-47.62-116.66-143.01-75.98-72.62-69.41-66.34-63.41-60.60
Capital Expenditure (%)
Free Cash Flow 143.1431.33-67.65-141.35-15.14-10.46-10-9.56-9.14-8.73

Weighted Average Cost Of Capital

Share price $ 8.46
Beta 0.963
Diluted Shares Outstanding 66.96
Cost of Debt
Tax Rate 24.06
After-tax Cost of Debt 3.25%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.830
Total Debt 502.20
Total Equity 566.46
Total Capital 1,068.66
Debt Weighting 46.99
Equity Weighting 53.01
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 711.52733.60726.15648.78589.62563.56538.64514.83492.06470.31
Operating Cash Flow 192.5578.9549.011.6560.8462.1559.4156.7854.2751.87
Capital Expenditure -49.41-47.62-116.66-143.01-75.98-72.62-69.41-66.34-63.41-60.60
Free Cash Flow 143.1431.33-67.65-141.35-15.14-10.46-10-9.56-9.14-8.73
WACC
PV LFCF -9.85-8.87-7.98-7.18-6.46
SUM PV LFCF -40.34

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.21
Free cash flow (t + 1) -9
Terminal Value -280.23
Present Value of Terminal Value -207.34

Intrinsic Value

Enterprise Value -247.68
Net Debt 479.36
Equity Value -727.04
Shares Outstanding 66.96
Equity Value Per Share -10.86