Discounted Cash Flow (DCF) Analysis Levered
Heska Corporation (HSKA)
$119.99
0.00 (0.00%)
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 | 127.45 | 122.66 | 197.32 | 253.74 | 257.31 | 313.34 | 381.58 | 464.68 | 565.88 | 689.11 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 13.29 | 3.30 | -0.66 | 6.25 | -21.81 | 4.24 | 5.16 | 6.29 | 7.66 | 9.32 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -4.11 | -1.04 | -0.69 | -1.77 | -2.11 | -3.72 | -4.53 | -5.52 | -6.72 | -8.19 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 9.18 | 2.25 | -1.34 | 4.48 | -23.93 | 0.52 | 0.63 | 0.77 | 0.93 | 1.14 |
Weighted Average Cost Of Capital
Share price | $ 119.99 |
---|---|
Beta | 1.599 |
Diluted Shares Outstanding | 10.34 |
Cost of Debt | |
Tax Rate | 15.62 |
After-tax Cost of Debt | 3.58% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.786 |
Total Debt | 103.07 |
Total Equity | 1,241.06 |
Total Capital | 1,344.13 |
Debt Weighting | 7.67 |
Equity Weighting | 92.33 |
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 | 127.45 | 122.66 | 197.32 | 253.74 | 257.31 | 313.34 | 381.58 | 464.68 | 565.88 | 689.11 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 13.29 | 3.30 | -0.66 | 6.25 | -21.81 | 4.24 | 5.16 | 6.29 | 7.66 | 9.32 |
Capital Expenditure | -4.11 | -1.04 | -0.69 | -1.77 | -2.11 | -3.72 | -4.53 | -5.52 | -6.72 | -8.19 |
Free Cash Flow | 9.18 | 2.25 | -1.34 | 4.48 | -23.93 | 0.52 | 0.63 | 0.77 | 0.93 | 1.14 |
WACC | ||||||||||
PV LFCF | 0.46 | 0.51 | 0.56 | 0.61 | 0.67 | |||||
SUM PV LFCF | 2.81 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 11.16 |
Free cash flow (t + 1) | 1.16 |
Terminal Value | 12.65 |
Present Value of Terminal Value | 7.45 |
Intrinsic Value
Enterprise Value | 10.27 |
---|---|
Net Debt | -53.55 |
Equity Value | 63.81 |
Shares Outstanding | 10.34 |
Equity Value Per Share | 6.17 |