Discounted Cash Flow (DCF) Analysis Levered

Getty Realty Corp. (GTY)

$27.2

-0.17 (-0.62%)
All numbers are in Millions, Currency in USD
Stock DCF: 64.80 | 27.2 | 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 140.66147.35155.41165.59185.85199.33213.78229.29245.92263.76
Revenue (%)
Operating Cash Flow 76.7782.8386.8293.09105.30111.44119.52128.19137.49147.46
Operating Cash Flow (%)
Capital Expenditure -0.01-0.28-0.27-0.21-0.23-0.25-0.27-0.29-0.31-0.33
Capital Expenditure (%)
Free Cash Flow 76.7682.5586.5592.88105.07111.19119.25127.90137.18147.13

Weighted Average Cost Of Capital

Share price $ 27.2
Beta 0.929
Diluted Shares Outstanding 50.22
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 4.30%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.688
Total Debt 772.74
Total Equity 1,365.88
Total Capital 2,138.62
Debt Weighting 36.13
Equity Weighting 63.87
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 140.66147.35155.41165.59185.85199.33213.78229.29245.92263.76
Operating Cash Flow 76.7782.8386.8293.09105.30111.44119.52128.19137.49147.46
Capital Expenditure -0.01-0.28-0.27-0.21-0.23-0.25-0.27-0.29-0.31-0.33
Free Cash Flow 76.7682.5586.5592.88105.07111.19119.25127.90137.18147.13
WACC
PV LFCF 73.6773.7873.8973.9974.10
SUM PV LFCF 520.57

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.10
Free cash flow (t + 1) 153.01
Terminal Value 4,935.92
Present Value of Terminal Value 3,502.85

Intrinsic Value

Enterprise Value 4,023.42
Net Debt 769.44
Equity Value 3,253.98
Shares Outstanding 50.22
Equity Value Per Share 64.80