Discounted Cash Flow (DCF) Analysis Levered
Kratos Defense & Security Solutions... (KTOS)
$17
-0.10 (-0.58%)
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 | 717.50 | 747.70 | 811.50 | 898.30 | 1,037.10 | 1,137.93 | 1,248.56 | 1,369.96 | 1,503.15 | 1,649.29 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 30 | 46.60 | 30.80 | -25.70 | 65.20 | 40.13 | 44.04 | 48.32 | 53.02 | 58.17 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -26.30 | -35.90 | -46.50 | -45.40 | -52.40 | -55.31 | -60.69 | -66.59 | -73.06 | -80.17 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 3.70 | 10.70 | -15.70 | -71.10 | 12.80 | -15.18 | -16.65 | -18.27 | -20.05 | -22 |
Weighted Average Cost Of Capital
Share price | $ 17 |
---|---|
Beta | 0.800 |
Diluted Shares Outstanding | 130.40 |
Cost of Debt | |
Tax Rate | 180.18 |
After-tax Cost of Debt | -5.91% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.132 |
Total Debt | 321.40 |
Total Equity | 2,216.80 |
Total Capital | 2,538.20 |
Debt Weighting | 12.66 |
Equity Weighting | 87.34 |
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 | 717.50 | 747.70 | 811.50 | 898.30 | 1,037.10 | 1,137.93 | 1,248.56 | 1,369.96 | 1,503.15 | 1,649.29 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 30 | 46.60 | 30.80 | -25.70 | 65.20 | 40.13 | 44.04 | 48.32 | 53.02 | 58.17 |
Capital Expenditure | -26.30 | -35.90 | -46.50 | -45.40 | -52.40 | -55.31 | -60.69 | -66.59 | -73.06 | -80.17 |
Free Cash Flow | 3.70 | 10.70 | -15.70 | -71.10 | 12.80 | -15.18 | -16.65 | -18.27 | -20.05 | -22 |
WACC | ||||||||||
PV LFCF | -14.27 | -14.72 | -15.19 | -15.67 | -16.17 | |||||
SUM PV LFCF | -76.03 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.35 |
Free cash flow (t + 1) | -22.88 |
Terminal Value | -973.49 |
Present Value of Terminal Value | -715.56 |
Intrinsic Value
Enterprise Value | -791.58 |
---|---|
Net Debt | 248.60 |
Equity Value | -1,040.18 |
Shares Outstanding | 130.40 |
Equity Value Per Share | -7.98 |