Discounted Cash Flow (DCF) Analysis Levered

LSI Industries Inc. (LYTS)

$15.81

+0.22 (+1.41%)
All numbers are in Millions, Currency in USD
Stock DCF: 15.31 | 15.81 | overvalue

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 328.85305.56315.61455.12496.98558.61627.89705.76793.28891.67
Revenue (%)
Operating Cash Flow 11.4929.7128.01-3.8629.7630.4234.2038.4443.2148.56
Operating Cash Flow (%)
Capital Expenditure -2.62-2.74-2.23-2.12-3.56-4-4.50-5.06-5.68-6.39
Capital Expenditure (%)
Free Cash Flow 8.8726.9725.78-5.9926.2026.4229.7033.3837.5242.17

Weighted Average Cost Of Capital

Share price $ 15.81
Beta 1.062
Diluted Shares Outstanding 29.68
Cost of Debt
Tax Rate 22.70
After-tax Cost of Debt 8.09%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.642
Total Debt 35.20
Total Equity 469.24
Total Capital 504.44
Debt Weighting 6.98
Equity Weighting 93.02
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 328.85305.56315.61455.12496.98558.61627.89705.76793.28891.67
Operating Cash Flow 11.4929.7128.01-3.8629.7630.4234.2038.4443.2148.56
Capital Expenditure -2.62-2.74-2.23-2.12-3.56-4-4.50-5.06-5.68-6.39
Free Cash Flow 8.8726.9725.78-5.9926.2026.4229.7033.3837.5242.17
WACC
PV LFCF 24.1224.7625.4026.0726.75
SUM PV LFCF 127.11

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.53
Free cash flow (t + 1) 43.02
Terminal Value 571.29
Present Value of Terminal Value 362.40

Intrinsic Value

Enterprise Value 489.51
Net Debt 35.20
Equity Value 454.31
Shares Outstanding 29.68
Equity Value Per Share 15.31