Discounted Cash Flow (DCF) Analysis Levered

Helix Energy Solutions Group, Inc. (HLX)

$7.81

+0.03 (+0.39%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.09 | 7.81 | overvalue

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 581.38739.82751.91733.56674.73705.81738.32772.33807.91845.12
Revenue (%)
Operating Cash Flow 51.64196.74169.6798.80140.12130.26136.26142.53149.10155.97
Operating Cash Flow (%)
Capital Expenditure -231.13-137.08-140.85-20.24-8.32-114.35-119.62-125.13-130.90-136.93
Capital Expenditure (%)
Free Cash Flow -179.4959.6628.8278.56131.7915.9016.6417.4018.2019.04

Weighted Average Cost Of Capital

Share price $ 7.81
Beta 2.881
Diluted Shares Outstanding 150.06
Cost of Debt
Tax Rate 12.89
After-tax Cost of Debt 4.98%
Risk-Free Rate
Market Risk Premium
Cost of Equity 17.148
Total Debt 410.95
Total Equity 1,171.94
Total Capital 1,582.88
Debt Weighting 25.96
Equity Weighting 74.04
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 581.38739.82751.91733.56674.73705.81738.32772.33807.91845.12
Operating Cash Flow 51.64196.74169.6798.80140.12130.26136.26142.53149.10155.97
Capital Expenditure -231.13-137.08-140.85-20.24-8.32-114.35-119.62-125.13-130.90-136.93
Free Cash Flow -179.4959.6628.8278.56131.7915.9016.6417.4018.2019.04
WACC
PV LFCF 13.9512.8011.7510.789.89
SUM PV LFCF 59.18

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 13.99
Free cash flow (t + 1) 19.42
Terminal Value 161.99
Present Value of Terminal Value 84.17

Intrinsic Value

Enterprise Value 143.35
Net Debt 157.43
Equity Value -14.08
Shares Outstanding 150.06
Equity Value Per Share -0.09