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
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 | 581.38 | 739.82 | 751.91 | 733.56 | 674.73 | 705.81 | 738.32 | 772.33 | 807.91 | 845.12 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 51.64 | 196.74 | 169.67 | 98.80 | 140.12 | 130.26 | 136.26 | 142.53 | 149.10 | 155.97 |
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 | -179.49 | 59.66 | 28.82 | 78.56 | 131.79 | 15.90 | 16.64 | 17.40 | 18.20 | 19.04 |
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 | 581.38 | 739.82 | 751.91 | 733.56 | 674.73 | 705.81 | 738.32 | 772.33 | 807.91 | 845.12 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 51.64 | 196.74 | 169.67 | 98.80 | 140.12 | 130.26 | 136.26 | 142.53 | 149.10 | 155.97 |
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 | -179.49 | 59.66 | 28.82 | 78.56 | 131.79 | 15.90 | 16.64 | 17.40 | 18.20 | 19.04 |
WACC | ||||||||||
PV LFCF | 13.95 | 12.80 | 11.75 | 10.78 | 9.89 | |||||
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 |