Discounted Cash Flow (DCF) Analysis Levered
Kontoor Brands, Inc. (KTB)
$47.73
+1.74 (+3.78%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 2,830.11 | 2,764 | 2,548.84 | 2,419.86 | 2,297.42 | 2,181.17 | 2,070.80 | 1,966.01 | 1,866.53 | 1,772.08 | 1,682.41 |
---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||||
Operating Cash Flow | 168.60 | -96.30 | 777.79 | 266.09 | 252.63 | 239.85 | 227.71 | 216.19 | 205.25 | 194.86 | 185 |
Operating Cash Flow (%) | |||||||||||
Capital Expenditure | -26.46 | -22.70 | -37.49 | -26.03 | -24.71 | -23.46 | -22.28 | -21.15 | -20.08 | -19.06 | -18.10 |
Capital Expenditure (%) | |||||||||||
Free Cash Flow | 142.14 | -119 | 740.30 | 240.06 | 227.92 | 216.38 | 205.43 | 195.04 | 185.17 | 175.80 | 166.90 |
Weighted Average Cost Of Capital
Share price | $ 47.73 |
---|---|
Beta | 1.176 |
Diluted Shares Outstanding | 59.09 |
Cost of Debt | |
Tax Rate | 20.11 |
After-tax Cost of Debt | 3.66% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.098 |
Total Debt | 848.75 |
Total Equity | 2,820.17 |
Total Capital | 3,668.93 |
Debt Weighting | 23.13 |
Equity Weighting | 76.87 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 2,830.11 | 2,764 | 2,548.84 | 2,419.86 | 2,297.42 | 2,181.17 | 2,070.80 | 1,966.01 | 1,866.53 | 1,772.08 | 1,682.41 |
---|---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 168.60 | -96.30 | 777.79 | 266.09 | 252.63 | 239.85 | 227.71 | 216.19 | 205.25 | 194.86 | 185 |
Capital Expenditure | -26.46 | -22.70 | -37.49 | -26.03 | -24.71 | -23.46 | -22.28 | -21.15 | -20.08 | -19.06 | -18.10 |
Free Cash Flow | 142.14 | -119 | 740.30 | 240.06 | 227.92 | 216.38 | 205.43 | 195.04 | 185.17 | 175.80 | 166.90 |
WACC | |||||||||||
PV LFCF | 258.88 | 227.92 | 200.65 | 176.65 | 155.52 | 136.91 | 120.54 | 106.12 | |||
SUM PV LFCF | 750.28 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.84 |
Free cash flow (t + 1) | 170.24 |
Terminal Value | 2,915.10 |
Present Value of Terminal Value | 1,998.73 |
Intrinsic Value
Enterprise Value | 2,749.01 |
---|---|
Net Debt | 663.43 |
Equity Value | 2,085.58 |
Shares Outstanding | 59.09 |
Equity Value Per Share | 35.30 |