Discounted Cash Flow (DCF) Analysis Levered

LSB Industries, Inc. (LXU)

$7.2699

-0.09 (-1.22%)
All numbers are in Millions, Currency in USD
Stock DCF: 10.04 | 7.2699 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 378.16365.07351.32556.24901.711,156.921,484.351,904.462,443.473,135.03
Revenue (%)
Operating Cash Flow 17.622.10-2.5187.63345.65135.60173.98223.23286.40367.46
Operating Cash Flow (%)
Capital Expenditure -37.05-36.08-30.47-35.13-45.83-91.98-118.01-151.41-194.27-249.25
Capital Expenditure (%)
Free Cash Flow -19.43-33.98-32.9852.50299.8243.6255.9771.8192.14118.21

Weighted Average Cost Of Capital

Share price $ 7.2,699
Beta 1.098
Diluted Shares Outstanding 86.03
Cost of Debt
Tax Rate 14.53
After-tax Cost of Debt 5.38%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.443
Total Debt 743.28
Total Equity 625.39
Total Capital 1,368.68
Debt Weighting 54.31
Equity Weighting 45.69
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 378.16365.07351.32556.24901.711,156.921,484.351,904.462,443.473,135.03
Operating Cash Flow 17.622.10-2.5187.63345.65135.60173.98223.23286.40367.46
Capital Expenditure -37.05-36.08-30.47-35.13-45.83-91.98-118.01-151.41-194.27-249.25
Free Cash Flow -19.43-33.98-32.9852.50299.8243.6255.9771.8192.14118.21
WACC
PV LFCF 40.6848.6758.2369.6683.35
SUM PV LFCF 300.59

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.24
Free cash flow (t + 1) 118.81
Terminal Value 1,762.70
Present Value of Terminal Value 1,242.78

Intrinsic Value

Enterprise Value 1,543.37
Net Debt 679.52
Equity Value 863.85
Shares Outstanding 86.03
Equity Value Per Share 10.04