Discounted Cash Flow (DCF) Analysis Levered
Graphic Packaging Holding Company (GPK)
$20.35
-0.04 (-0.20%)
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 | 4,403.70 | 6,023 | 6,160.10 | 6,559.90 | 7,156 | 8,133.24 | 9,243.93 | 10,506.30 | 11,941.06 | 13,571.76 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 516.20 | -373.80 | 665.80 | 824.70 | 609 | 608.47 | 691.56 | 786 | 893.34 | 1,015.34 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -260.10 | -395.20 | -352.90 | -646.30 | -802 | -638.56 | -725.77 | -824.88 | -937.53 | -1,065.56 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 256.10 | -769 | 312.90 | 178.40 | -193 | -30.10 | -34.21 | -38.88 | -44.19 | -50.22 |
Weighted Average Cost Of Capital
Share price | $ 20.35 |
---|---|
Beta | 0.963 |
Diluted Shares Outstanding | 308.30 |
Cost of Debt | |
Tax Rate | 29.41 |
After-tax Cost of Debt | 1.43% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.330 |
Total Debt | 6,060 |
Total Equity | 6,273.90 |
Total Capital | 12,333.91 |
Debt Weighting | 49.13 |
Equity Weighting | 50.87 |
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 | 4,403.70 | 6,023 | 6,160.10 | 6,559.90 | 7,156 | 8,133.24 | 9,243.93 | 10,506.30 | 11,941.06 | 13,571.76 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 516.20 | -373.80 | 665.80 | 824.70 | 609 | 608.47 | 691.56 | 786 | 893.34 | 1,015.34 |
Capital Expenditure | -260.10 | -395.20 | -352.90 | -646.30 | -802 | -638.56 | -725.77 | -824.88 | -937.53 | -1,065.56 |
Free Cash Flow | 256.10 | -769 | 312.90 | 178.40 | -193 | -30.10 | -34.21 | -38.88 | -44.19 | -50.22 |
WACC | ||||||||||
PV LFCF | -28.82 | -31.37 | -34.14 | -37.15 | -40.43 | |||||
SUM PV LFCF | -171.91 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.43 |
Free cash flow (t + 1) | -51.22 |
Terminal Value | -2,108.02 |
Present Value of Terminal Value | -1,697.26 |
Intrinsic Value
Enterprise Value | -1,869.16 |
---|---|
Net Debt | 5,888 |
Equity Value | -7,757.16 |
Shares Outstanding | 308.30 |
Equity Value Per Share | -25.16 |