Discounted Cash Flow (DCF) Analysis Levered

Iconix Brand Group, Inc. (ICON)

$3.15

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.76 | 3.15 | overvalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 368.46225.83187.69148.98111.1382.9061.8346.1234.4125.66
Revenue (%)
Operating Cash Flow 122.182.0756.0830.3120.4217.0212.709.477.075.27
Operating Cash Flow (%)
Capital Expenditure -9.66-1.08-3.29-6.63-0.60-1.63-1.22-0.91-0.68-0.51
Capital Expenditure (%)
Free Cash Flow 112.510.9952.7923.6819.8215.3911.488.566.394.77

Weighted Average Cost Of Capital

Share price $ 3.15
Beta 2.269
Diluted Shares Outstanding 9.65
Cost of Debt
Tax Rate -8.61
After-tax Cost of Debt 119.04%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.548
Total Debt 56.87
Total Equity 30.40
Total Capital 87.27
Debt Weighting 65.16
Equity Weighting 34.84
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 368.46225.83187.69148.98111.1382.9061.8346.1234.4125.66
Operating Cash Flow 122.182.0756.0830.3120.4217.0212.709.477.075.27
Capital Expenditure -9.66-1.08-3.29-6.63-0.60-1.63-1.22-0.91-0.68-0.51
Free Cash Flow 112.510.9952.7923.6819.8215.3911.488.566.394.77
WACC
PV LFCF 19.828.433.441.410.570.23
SUM PV LFCF 14.08

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 82.64
Free cash flow (t + 1) 4.86
Terminal Value 6.03
Present Value of Terminal Value 0.30

Intrinsic Value

Enterprise Value 14.38
Net Debt 7.07
Equity Value 7.31
Shares Outstanding 9.65
Equity Value Per Share 0.76