Discounted Cash Flow (DCF) Analysis Levered

Kimball International, Inc. (KBAL)

$8.61

+0.23 (+2.74%)
All numbers are in Millions, Currency in USD
Stock DCF: 5.94 | 8.61 | 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 685.60768.07727.86569.01665.88669.20672.53675.88679.25682.63
Revenue (%)
Operating Cash Flow 46.8764.9729.8027.29-4.5731.4531.6131.7631.9232.08
Operating Cash Flow (%)
Capital Expenditure -22.30-20.97-21.08-19.53-20.49-20.60-20.70-20.80-20.91-21.01
Capital Expenditure (%)
Free Cash Flow 24.57448.727.76-25.0710.8510.9110.9611.0211.07

Weighted Average Cost Of Capital

Share price $ 8.61
Beta 0.854
Diluted Shares Outstanding 37.37
Cost of Debt
Tax Rate 9.79
After-tax Cost of Debt 4.51%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.878
Total Debt -
Total Equity 321.77
Total Capital 321.77
Debt Weighting 0.00
Equity Weighting 100.00
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 685.60768.07727.86569.01665.88669.20672.53675.88679.25682.63
Operating Cash Flow 46.8764.9729.8027.29-4.5731.4531.6131.7631.9232.08
Capital Expenditure -22.30-20.97-21.08-19.53-20.49-20.60-20.70-20.80-20.91-21.01
Free Cash Flow 24.57448.727.76-25.0710.8510.9110.9611.0211.07
WACC
PV LFCF 10.159.558.988.447.94
SUM PV LFCF 45.06

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.88
Free cash flow (t + 1) 11.29
Terminal Value 231.40
Present Value of Terminal Value 165.91

Intrinsic Value

Enterprise Value 210.97
Net Debt -10.93
Equity Value 221.91
Shares Outstanding 37.37
Equity Value Per Share 5.94