Discounted Cash Flow (DCF) Analysis Levered

IDT Corporation (IDT)

$28.53

-0.98 (-3.32%)
All numbers are in Millions, Currency in USD
Stock DCF: 9.06 | 28.53 | overvalue

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 1,547.491,409.171,345.771,446.991,364.061,324.341,285.771,248.331,211.981,176.69
Revenue (%)
Operating Cash Flow 6.8985.14-29.5966.6229.4129.2628.4127.5826.7826
Operating Cash Flow (%)
Capital Expenditure -20.57-18.68-16.04-16.76-21.88-17.51-17-16.50-16.02-15.55
Capital Expenditure (%)
Free Cash Flow -13.6766.46-45.6349.857.5311.7611.4111.0810.7610.45

Weighted Average Cost Of Capital

Share price $ 28.53
Beta 1.147
Diluted Shares Outstanding 26.36
Cost of Debt
Tax Rate 22.52
After-tax Cost of Debt 2.46%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.903
Total Debt 4.61
Total Equity 751.94
Total Capital 756.54
Debt Weighting 0.61
Equity Weighting 99.39
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 1,547.491,409.171,345.771,446.991,364.061,324.341,285.771,248.331,211.981,176.69
Operating Cash Flow 6.8985.14-29.5966.6229.4129.2628.4127.5826.7826
Capital Expenditure -20.57-18.68-16.04-16.76-21.88-17.51-17-16.50-16.02-15.55
Free Cash Flow -13.6766.46-45.6349.857.5311.7611.4111.0810.7610.45
WACC
PV LFCF 10.809.638.597.666.83
SUM PV LFCF 43.52

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.86
Free cash flow (t + 1) 10.66
Terminal Value 155.33
Present Value of Terminal Value 101.60

Intrinsic Value

Enterprise Value 145.12
Net Debt -93.75
Equity Value 238.87
Shares Outstanding 26.36
Equity Value Per Share 9.06