Discounted Cash Flow (DCF) Analysis Levered

Mattel, Inc. (MAT)

$20.535

-0.69 (-3.27%)
All numbers are in Millions, Currency in USD
Stock DCF: -5.16 | 20.535 | overvalue

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 4,881.954,510.854,504.574,583.665,457.705,636.225,820.576,010.966,207.576,410.62
Revenue (%)
Operating Cash Flow -27.61-27.32180.98288.50485203.21209.86216.72223.81231.13
Operating Cash Flow (%)
Capital Expenditure -297.16-152.41-116.35-121.60-77.13-181.65-187.60-193.73-200.07-206.61
Capital Expenditure (%)
Free Cash Flow -324.77-179.7364.63166.90407.8721.5622.2622.9923.7424.52

Weighted Average Cost Of Capital

Share price $ 20.535
Beta 1.147
Diluted Shares Outstanding 349.10
Cost of Debt
Tax Rate -91.80
After-tax Cost of Debt 8.89%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.046
Total Debt 2,854.60
Total Equity 7,168.77
Total Capital 10,023.37
Debt Weighting 28.48
Equity Weighting 71.52
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 4,881.954,510.854,504.574,583.665,457.705,636.225,820.576,010.966,207.576,410.62
Operating Cash Flow -27.61-27.32180.98288.50485203.21209.86216.72223.81231.13
Capital Expenditure -297.16-152.41-116.35-121.60-77.13-181.65-187.60-193.73-200.07-206.61
Free Cash Flow -324.77-179.7364.63166.90407.8721.5622.2622.9923.7424.52
WACC
PV LFCF 19.7818.7417.7516.8215.93
SUM PV LFCF 89.02

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.00
Free cash flow (t + 1) 25.01
Terminal Value 357.25
Present Value of Terminal Value 232.19

Intrinsic Value

Enterprise Value 321.21
Net Debt 2,123.20
Equity Value -1,801.99
Shares Outstanding 349.10
Equity Value Per Share -5.16