Discounted Cash Flow (DCF) Analysis Levered
Livent Corporation (LTHM)
$30.03
+1.69 (+5.96%)
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 | 347.40 | 442.50 | 388.40 | 288.20 | 420.40 | 457.42 | 497.70 | 541.52 | 589.20 | 641.08 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 58.30 | 92 | 58.10 | 6.30 | 26.40 | 55.80 | 60.72 | 66.06 | 71.88 | 78.21 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -48.90 | -73.60 | -184.30 | -75.09 | -109.53 | -119.17 | -129.67 | -141.08 | -153.51 | -167.02 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 9.40 | 18.40 | -126.20 | -68.79 | -83.13 | -63.37 | -68.95 | -75.02 | -81.63 | -88.81 |
Weighted Average Cost Of Capital
| Share price | $ 30.03 |
|---|---|
| Beta | 2.019 |
| Diluted Shares Outstanding | 146.20 |
| Cost of Debt | |
| Tax Rate | 97.49 |
| After-tax Cost of Debt | 0.31% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.377 |
| Total Debt | 240.40 |
| Total Equity | 4,390.39 |
| Total Capital | 4,630.79 |
| Debt Weighting | 5.19 |
| Equity Weighting | 94.81 |
| 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 | 347.40 | 442.50 | 388.40 | 288.20 | 420.40 | 457.42 | 497.70 | 541.52 | 589.20 | 641.08 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 58.30 | 92 | 58.10 | 6.30 | 26.40 | 55.80 | 60.72 | 66.06 | 71.88 | 78.21 |
| Capital Expenditure | -48.90 | -73.60 | -184.30 | -75.09 | -109.53 | -119.17 | -129.67 | -141.08 | -153.51 | -167.02 |
| Free Cash Flow | 9.40 | 18.40 | -126.20 | -68.79 | -83.13 | -63.37 | -68.95 | -75.02 | -81.63 | -88.81 |
| WACC | ||||||||||
| PV LFCF | -56.71 | -55.21 | -53.76 | -52.34 | -50.96 | |||||
| SUM PV LFCF | -268.98 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.75 |
| Free cash flow (t + 1) | -90.59 |
| Terminal Value | -929.14 |
| Present Value of Terminal Value | -533.14 |
Intrinsic Value
| Enterprise Value | -802.12 |
|---|---|
| Net Debt | 127.40 |
| Equity Value | -929.52 |
| Shares Outstanding | 146.20 |
| Equity Value Per Share | -6.36 |