Discounted Cash Flow (DCF) Analysis Levered
Linamar Corporation (LNR.TO)
$61.59
+1.49 (+2.48%)
All numbers are in Millions, Currency in USD
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 | 6,546.46 | 7,620.58 | 7,416.62 | 5,815.57 | 6,536.57 | 6,610.79 | 6,685.85 | 6,761.77 | 6,838.54 | 6,916.19 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 785.92 | 691.24 | 1,167.68 | 1,434.09 | 908.76 | 996.67 | 1,007.99 | 1,019.44 | 1,031.01 | 1,042.72 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -427.40 | -558.03 | -558.97 | -291.65 | -254.54 | -400.58 | -405.13 | -409.72 | -414.38 | -419.08 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 358.53 | 133.21 | 608.71 | 1,142.44 | 654.22 | 596.10 | 602.87 | 609.71 | 616.63 | 623.63 |
Weighted Average Cost Of Capital
| Share price | $ 61.59 |
|---|---|
| Beta | 1.391 |
| Diluted Shares Outstanding | 65.57 |
| Cost of Debt | |
| Tax Rate | 25.19 |
| After-tax Cost of Debt | 1.74% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.174 |
| Total Debt | 791.54 |
| Total Equity | 4,038.35 |
| Total Capital | 4,829.90 |
| Debt Weighting | 16.39 |
| Equity Weighting | 83.61 |
| 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 | 6,546.46 | 7,620.58 | 7,416.62 | 5,815.57 | 6,536.57 | 6,610.79 | 6,685.85 | 6,761.77 | 6,838.54 | 6,916.19 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 785.92 | 691.24 | 1,167.68 | 1,434.09 | 908.76 | 996.67 | 1,007.99 | 1,019.44 | 1,031.01 | 1,042.72 |
| Capital Expenditure | -427.40 | -558.03 | -558.97 | -291.65 | -254.54 | -400.58 | -405.13 | -409.72 | -414.38 | -419.08 |
| Free Cash Flow | 358.53 | 133.21 | 608.71 | 1,142.44 | 654.22 | 596.10 | 602.87 | 609.71 | 616.63 | 623.63 |
| WACC | ||||||||||
| PV LFCF | 503.66 | 468.22 | 435.28 | 404.65 | 376.18 | |||||
| SUM PV LFCF | 2,380.32 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.79 |
| Free cash flow (t + 1) | 636.11 |
| Terminal Value | 9,368.30 |
| Present Value of Terminal Value | 6,147.74 |
Intrinsic Value
| Enterprise Value | 8,528.07 |
|---|---|
| Net Debt | -136.88 |
| Equity Value | 8,664.95 |
| Shares Outstanding | 65.57 |
| Equity Value Per Share | 132.15 |