Discounted Cash Flow (DCF) Analysis Levered

Lindsay Corporation (LNN)

$142.83

+0.75 (+0.53%)
All numbers are in Millions, Currency in USD
Stock DCF: 37.41 | 142.83 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 517.99547.71444.07474.69567.65586.51606626.14646.95668.45
Revenue (%)
Operating Cash Flow 39.4533.933.8046.0343.9737.6738.9240.2141.5542.93
Operating Cash Flow (%)
Capital Expenditure -8.86-11.05-23.21-21.44-26.51-21.28-21.99-22.72-23.48-24.26
Capital Expenditure (%)
Free Cash Flow 30.5922.88-19.4124.5917.4616.3816.9317.4918.0718.67

Weighted Average Cost Of Capital

Share price $ 142.83
Beta 0.505
Diluted Shares Outstanding 10.98
Cost of Debt
Tax Rate 15.51
After-tax Cost of Debt 2.91%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.349
Total Debt 138.02
Total Equity 1,568.99
Total Capital 1,707.01
Debt Weighting 8.09
Equity Weighting 91.91
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 517.99547.71444.07474.69567.65586.51606626.14646.95668.45
Operating Cash Flow 39.4533.933.8046.0343.9737.6738.9240.2141.5542.93
Capital Expenditure -8.86-11.05-23.21-21.44-26.51-21.28-21.99-22.72-23.48-24.26
Free Cash Flow 30.5922.88-19.4124.5917.4616.3816.9317.4918.0718.67
WACC
PV LFCF 15.4415.0414.6614.2813.91
SUM PV LFCF 73.33

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.07
Free cash flow (t + 1) 19.04
Terminal Value 467.92
Present Value of Terminal Value 348.50

Intrinsic Value

Enterprise Value 421.83
Net Debt 10.92
Equity Value 410.91
Shares Outstanding 10.98
Equity Value Per Share 37.41