Discounted Cash Flow (DCF) Analysis Levered
ManTech International Corporation (MANT)
$95.98
-0.01 (-0.01%)
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 | 1,717.02 | 1,958.56 | 2,222.56 | 2,518.38 | 2,553.96 | 2,823.84 | 3,122.25 | 3,452.18 | 3,816.99 | 4,220.34 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 152.96 | 93.44 | 221.41 | 247.24 | 212.17 | 235.88 | 260.81 | 288.37 | 318.84 | 352.53 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -38.86 | -35.13 | -58.47 | -76.32 | -54.92 | -67.03 | -74.11 | -81.95 | -90.61 | -100.18 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 114.10 | 58.31 | 162.93 | 170.92 | 157.25 | 168.85 | 186.69 | 206.42 | 228.23 | 252.35 |
Weighted Average Cost Of Capital
| Share price | $ 95.98 |
|---|---|
| Beta | 0.662 |
| Diluted Shares Outstanding | 40.90 |
| Cost of Debt | |
| Tax Rate | 25.80 |
| After-tax Cost of Debt | 0.45% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.722 |
| Total Debt | 396.13 |
| Total Equity | 3,925.64 |
| Total Capital | 4,321.77 |
| Debt Weighting | 9.17 |
| Equity Weighting | 90.83 |
| 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 | 1,717.02 | 1,958.56 | 2,222.56 | 2,518.38 | 2,553.96 | 2,823.84 | 3,122.25 | 3,452.18 | 3,816.99 | 4,220.34 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 152.96 | 93.44 | 221.41 | 247.24 | 212.17 | 235.88 | 260.81 | 288.37 | 318.84 | 352.53 |
| Capital Expenditure | -38.86 | -35.13 | -58.47 | -76.32 | -54.92 | -67.03 | -74.11 | -81.95 | -90.61 | -100.18 |
| Free Cash Flow | 114.10 | 58.31 | 162.93 | 170.92 | 157.25 | 168.85 | 186.69 | 206.42 | 228.23 | 252.35 |
| WACC | ||||||||||
| PV LFCF | 157.73 | 162.91 | 168.27 | 173.79 | 179.50 | |||||
| SUM PV LFCF | 842.21 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.05 |
| Free cash flow (t + 1) | 257.40 |
| Terminal Value | 5,097.03 |
| Present Value of Terminal Value | 3,625.63 |
Intrinsic Value
| Enterprise Value | 4,467.84 |
|---|---|
| Net Debt | 342.76 |
| Equity Value | 4,125.08 |
| Shares Outstanding | 40.90 |
| Equity Value Per Share | 100.86 |