Discounted Cash Flow (DCF) Analysis Levered
Koss Corporation (KOSS)
$2.46
-0.02 (-0.81%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 21.84 | 18.31 | 19.55 | 17.61 | 13.10 | 11.63 | 10.32 | 9.16 | 8.13 | 7.22 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1.41 | 1.80 | 0.35 | -0.94 | 10.74 | 2.20 | 1.95 | 1.73 | 1.54 | 1.37 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -0.19 | -0.42 | -0.60 | -0.11 | -0.10 | -0.18 | -0.16 | -0.14 | -0.12 | -0.11 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 1.22 | 1.38 | -0.25 | -1.05 | 10.64 | 2.02 | 1.80 | 1.60 | 1.42 | 1.26 |
Weighted Average Cost Of Capital
Share price | $ 2.46 |
---|---|
Beta | -0.822 |
Diluted Shares Outstanding | 9.75 |
Cost of Debt | |
Tax Rate | 3.68 |
After-tax Cost of Debt | 4.82% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 0.435 |
Total Debt | 3.02 |
Total Equity | 23.99 |
Total Capital | 27.02 |
Debt Weighting | 11.19 |
Equity Weighting | 88.81 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 21.84 | 18.31 | 19.55 | 17.61 | 13.10 | 11.63 | 10.32 | 9.16 | 8.13 | 7.22 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1.41 | 1.80 | 0.35 | -0.94 | 10.74 | 2.20 | 1.95 | 1.73 | 1.54 | 1.37 |
Capital Expenditure | -0.19 | -0.42 | -0.60 | -0.11 | -0.10 | -0.18 | -0.16 | -0.14 | -0.12 | -0.11 |
Free Cash Flow | 1.22 | 1.38 | -0.25 | -1.05 | 10.64 | 2.02 | 1.80 | 1.60 | 1.42 | 1.26 |
WACC | ||||||||||
PV LFCF | 2.01 | 1.76 | 1.55 | 1.36 | 1.20 | |||||
SUM PV LFCF | 7.89 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 0.93 |
Free cash flow (t + 1) | 1.26 |
Terminal Value | 293.80 |
Present Value of Terminal Value | 280.52 |
Intrinsic Value
Enterprise Value | 288.40 |
---|---|
Net Debt | -0.07 |
Equity Value | 288.47 |
Shares Outstanding | 9.75 |
Equity Value Per Share | 29.58 |