Discounted Cash Flow (DCF) Analysis Levered
Hasbro, Inc. (HAS)
$50.17
+1.13 (+2.30%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 4,579.65 | 4,720.23 | 5,465.44 | 6,420.40 | 5,856.70 | 6,260.08 | 6,691.25 | 7,152.11 | 7,644.72 | 8,171.25 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 646 | 653.06 | 976.34 | 817.90 | 372.90 | 812.70 | 868.67 | 928.50 | 992.46 | 1,060.81 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -140.43 | -133.64 | -125.75 | -132.70 | -174.20 | -165.76 | -177.18 | -189.38 | -202.43 | -216.37 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 505.57 | 519.43 | 850.59 | 685.20 | 198.70 | 646.94 | 691.50 | 739.12 | 790.03 | 844.44 |
Weighted Average Cost Of Capital
Share price | $ 50.17 |
---|---|
Beta | 0.739 |
Diluted Shares Outstanding | 138.90 |
Cost of Debt | |
Tax Rate | 22.18 |
After-tax Cost of Debt | 3.32% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.016 |
Total Debt | 4,006.40 |
Total Equity | 6,968.61 |
Total Capital | 10,975.01 |
Debt Weighting | 36.50 |
Equity Weighting | 63.50 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 4,579.65 | 4,720.23 | 5,465.44 | 6,420.40 | 5,856.70 | 6,260.08 | 6,691.25 | 7,152.11 | 7,644.72 | 8,171.25 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 646 | 653.06 | 976.34 | 817.90 | 372.90 | 812.70 | 868.67 | 928.50 | 992.46 | 1,060.81 |
Capital Expenditure | -140.43 | -133.64 | -125.75 | -132.70 | -174.20 | -165.76 | -177.18 | -189.38 | -202.43 | -216.37 |
Free Cash Flow | 505.57 | 519.43 | 850.59 | 685.20 | 198.70 | 646.94 | 691.50 | 739.12 | 790.03 | 844.44 |
WACC | ||||||||||
PV LFCF | 612.22 | 619.28 | 626.41 | 633.63 | 640.93 | |||||
SUM PV LFCF | 3,132.48 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.67 |
Free cash flow (t + 1) | 861.33 |
Terminal Value | 23,469.58 |
Present Value of Terminal Value | 17,813.40 |
Intrinsic Value
Enterprise Value | 20,945.88 |
---|---|
Net Debt | 3,468.20 |
Equity Value | 17,477.68 |
Shares Outstanding | 138.90 |
Equity Value Per Share | 125.83 |