Discounted Cash Flow (DCF) Analysis Levered
Kura Sushi USA, Inc. (KRUS)
$66.72
-2.31 (-3.35%)
All numbers are in Millions, Currency in USD
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 | 51.74 | 64.25 | 45.17 | 64.89 | 141.09 | 195.96 | 272.16 | 378 | 525.01 | 729.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 5.24 | 5.99 | -13 | -7.15 | 23.69 | -1.39 | -1.93 | -2.68 | -3.73 | -5.17 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -7.10 | -11.25 | -14.46 | -14.23 | -27.66 | -41.07 | -57.04 | -79.23 | -110.04 | -152.83 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1.86 | -5.26 | -27.46 | -21.38 | -3.97 | -42.46 | -58.97 | -81.91 | -113.76 | -158 |
Weighted Average Cost Of Capital
| Share price | $ 66.72 |
|---|---|
| Beta | 1.948 |
| Diluted Shares Outstanding | 9.72 |
| Cost of Debt | |
| Tax Rate | -10.72 |
| After-tax Cost of Debt | 0.10% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 13.752 |
| Total Debt | 90.81 |
| Total Equity | 648.45 |
| Total Capital | 739.26 |
| Debt Weighting | 12.28 |
| Equity Weighting | 87.72 |
| 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 | 51.74 | 64.25 | 45.17 | 64.89 | 141.09 | 195.96 | 272.16 | 378 | 525.01 | 729.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 5.24 | 5.99 | -13 | -7.15 | 23.69 | -1.39 | -1.93 | -2.68 | -3.73 | -5.17 |
| Capital Expenditure | -7.10 | -11.25 | -14.46 | -14.23 | -27.66 | -41.07 | -57.04 | -79.23 | -110.04 | -152.83 |
| Free Cash Flow | -1.86 | -5.26 | -27.46 | -21.38 | -3.97 | -42.46 | -58.97 | -81.91 | -113.76 | -158 |
| WACC | ||||||||||
| PV LFCF | -37.89 | -46.96 | -58.19 | -72.12 | -89.38 | |||||
| SUM PV LFCF | -304.53 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.07 |
| Free cash flow (t + 1) | -161.16 |
| Terminal Value | -1,600.42 |
| Present Value of Terminal Value | -905.29 |
Intrinsic Value
| Enterprise Value | -1,209.82 |
|---|---|
| Net Debt | 55.03 |
| Equity Value | -1,264.85 |
| Shares Outstanding | 9.72 |
| Equity Value Per Share | -130.14 |