Discounted Cash Flow (DCF) Analysis Levered
Hello Group Inc. (MOMO)
$5
+0.01 (+0.20%)
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 | 1,377.05 | 2,145.35 | 2,722.41 | 2,403.87 | 2,332.12 | 2,728.61 | 3,192.51 | 3,735.27 | 4,370.32 | 5,113.33 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 446.67 | 532.43 | 871.82 | 492.94 | 249.47 | 657.50 | 769.28 | 900.07 | 1,053.09 | 1,232.13 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -36.88 | -38.85 | -29.84 | -19.91 | -15.25 | -38.57 | -45.13 | -52.80 | -61.78 | -72.28 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 409.79 | 493.58 | 841.98 | 473.03 | 234.22 | 618.93 | 724.15 | 847.27 | 991.31 | 1,159.85 |
Weighted Average Cost Of Capital
Share price | $ 5 |
---|---|
Beta | 1.274 |
Diluted Shares Outstanding | 202.35 |
Cost of Debt | |
Tax Rate | -39.07 |
After-tax Cost of Debt | 1.53% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.139 |
Total Debt | 773.02 |
Total Equity | 1,011.75 |
Total Capital | 1,784.77 |
Debt Weighting | 43.31 |
Equity Weighting | 56.69 |
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 | 1,377.05 | 2,145.35 | 2,722.41 | 2,403.87 | 2,332.12 | 2,728.61 | 3,192.51 | 3,735.27 | 4,370.32 | 5,113.33 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 446.67 | 532.43 | 871.82 | 492.94 | 249.47 | 657.50 | 769.28 | 900.07 | 1,053.09 | 1,232.13 |
Capital Expenditure | -36.88 | -38.85 | -29.84 | -19.91 | -15.25 | -38.57 | -45.13 | -52.80 | -61.78 | -72.28 |
Free Cash Flow | 409.79 | 493.58 | 841.98 | 473.03 | 234.22 | 618.93 | 724.15 | 847.27 | 991.31 | 1,159.85 |
WACC | ||||||||||
PV LFCF | 584.78 | 646.44 | 714.61 | 789.97 | 873.28 | |||||
SUM PV LFCF | 3,609.08 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.84 |
Free cash flow (t + 1) | 1,183.05 |
Terminal Value | 30,808.54 |
Present Value of Terminal Value | 23,196.48 |
Intrinsic Value
Enterprise Value | 26,805.56 |
---|---|
Net Debt | -118.27 |
Equity Value | 26,923.83 |
Shares Outstanding | 202.35 |
Equity Value Per Share | 133.06 |