Discounted Cash Flow (DCF) Analysis Levered

Mesa Laboratories, Inc. (MLAB)

$196.14

+5.50 (+2.89%)
All numbers are in Millions, Currency in USD
Stock DCF: 64.28 | 196.14 | overvalue

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 96.18103.13117.69133.9458.8855.8052.8950.1347.5145.03
Revenue (%)
Operating Cash Flow 24.8130.5526.5637.0739.2219.2318.2217.2716.3715.52
Operating Cash Flow (%)
Capital Expenditure -2.80-1.26-1.50-1.99-4.43-1.61-1.53-1.45-1.37-1.30
Capital Expenditure (%)
Free Cash Flow 22.0129.2925.0635.0834.7917.6216.7015.831514.22

Weighted Average Cost Of Capital

Share price $ 196.14
Beta 0.525
Diluted Shares Outstanding 5.33
Cost of Debt
Tax Rate -3,778.26
After-tax Cost of Debt 2.29%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.325
Total Debt 169.37
Total Equity 1,046.41
Total Capital 1,215.77
Debt Weighting 13.93
Equity Weighting 86.07
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 96.18103.13117.69133.9458.8855.8052.8950.1347.5145.03
Operating Cash Flow 24.8130.5526.5637.0739.2219.2318.2217.2716.3715.52
Capital Expenditure -2.80-1.26-1.50-1.99-4.43-1.61-1.53-1.45-1.37-1.30
Free Cash Flow 22.0129.2925.0635.0834.7917.6216.7015.831514.22
WACC
PV LFCF 16.8015.1813.7112.3911.19
SUM PV LFCF 69.26

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.90
Free cash flow (t + 1) 14.50
Terminal Value 500.05
Present Value of Terminal Value 393.67

Intrinsic Value

Enterprise Value 462.93
Net Debt 120.02
Equity Value 342.91
Shares Outstanding 5.33
Equity Value Per Share 64.28