Discounted Cash Flow (DCF) Analysis Levered
IMAX Corporation (IMAX)
$17.325
-0.28 (-1.56%)
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 | 380.77 | 374.40 | 395.66 | 137 | 254.88 | 270.61 | 287.30 | 305.02 | 323.84 | 343.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 85.37 | 109.97 | 90.38 | -23.01 | 6.06 | 32.59 | 34.60 | 36.74 | 39 | 41.41 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -71.99 | -56.87 | -50.84 | -9.26 | -17.78 | -32.84 | -34.86 | -37.02 | -39.30 | -41.72 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 13.38 | 53.10 | 39.53 | -32.27 | -11.71 | -0.25 | -0.26 | -0.28 | -0.30 | -0.32 |
Weighted Average Cost Of Capital
| Share price | $ 17.325 |
|---|---|
| Beta | 1.374 |
| Diluted Shares Outstanding | 59.13 |
| Cost of Debt | |
| Tax Rate | 303.23 |
| After-tax Cost of Debt | -6.38% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.126 |
| Total Debt | 226.11 |
| Total Equity | 1,024.36 |
| Total Capital | 1,250.47 |
| Debt Weighting | 18.08 |
| Equity Weighting | 81.92 |
| 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 | 380.77 | 374.40 | 395.66 | 137 | 254.88 | 270.61 | 287.30 | 305.02 | 323.84 | 343.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 85.37 | 109.97 | 90.38 | -23.01 | 6.06 | 32.59 | 34.60 | 36.74 | 39 | 41.41 |
| Capital Expenditure | -71.99 | -56.87 | -50.84 | -9.26 | -17.78 | -32.84 | -34.86 | -37.02 | -39.30 | -41.72 |
| Free Cash Flow | 13.38 | 53.10 | 39.53 | -32.27 | -11.71 | -0.25 | -0.26 | -0.28 | -0.30 | -0.32 |
| WACC | ||||||||||
| PV LFCF | -0.23 | -0.23 | -0.23 | -0.23 | -0.22 | |||||
| SUM PV LFCF | -1.14 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.14 |
| Free cash flow (t + 1) | -0.32 |
| Terminal Value | -6.27 |
| Present Value of Terminal Value | -4.44 |
Intrinsic Value
| Enterprise Value | -5.58 |
|---|---|
| Net Debt | 36.40 |
| Equity Value | -41.98 |
| Shares Outstanding | 59.13 |
| Equity Value Per Share | -0.71 |