Discounted Cash Flow (DCF) Analysis Levered
Helix Energy Solutions Group, Inc. (HLX)
$7.42
-0.21 (-2.75%)
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 | 739.82 | 751.91 | 733.55 | 674.73 | 873.10 | 918.01 | 965.23 | 1,014.87 | 1,067.07 | 1,121.96 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 196.74 | 169.67 | 98.80 | 140.12 | 51.11 | 163.86 | 172.29 | 181.15 | 190.47 | 200.26 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -137.08 | -140.85 | -20.24 | -8.32 | -33.50 | -82.79 | -87.05 | -91.53 | -96.23 | -101.18 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 59.66 | 28.82 | 78.56 | 131.79 | 17.60 | 81.07 | 85.24 | 89.62 | 94.23 | 99.08 |
Weighted Average Cost Of Capital
Share price | $ 7.42 |
---|---|
Beta | 2.794 |
Diluted Shares Outstanding | 151.28 |
Cost of Debt | |
Tax Rate | -16.76 |
After-tax Cost of Debt | 4.03% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 16.688 |
Total Debt | 469.68 |
Total Equity | 1,122.47 |
Total Capital | 1,592.14 |
Debt Weighting | 29.50 |
Equity Weighting | 70.50 |
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 | 739.82 | 751.91 | 733.55 | 674.73 | 873.10 | 918.01 | 965.23 | 1,014.87 | 1,067.07 | 1,121.96 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 196.74 | 169.67 | 98.80 | 140.12 | 51.11 | 163.86 | 172.29 | 181.15 | 190.47 | 200.26 |
Capital Expenditure | -137.08 | -140.85 | -20.24 | -8.32 | -33.50 | -82.79 | -87.05 | -91.53 | -96.23 | -101.18 |
Free Cash Flow | 59.66 | 28.82 | 78.56 | 131.79 | 17.60 | 81.07 | 85.24 | 89.62 | 94.23 | 99.08 |
WACC | ||||||||||
PV LFCF | 44.10 | 41.05 | 38.21 | 35.57 | 33.11 | |||||
SUM PV LFCF | 312.58 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 12.95 |
Free cash flow (t + 1) | 101.06 |
Terminal Value | 922.93 |
Present Value of Terminal Value | 502.04 |
Intrinsic Value
Enterprise Value | 814.62 |
---|---|
Net Debt | 283.07 |
Equity Value | 531.55 |
Shares Outstanding | 151.28 |
Equity Value Per Share | 3.51 |