Discounted Cash Flow (DCF) Analysis Levered

MTY Food Group Inc. (MTY.TO)

$67.7

-0.13 (-0.19%)
All numbers are in Millions, Currency in USD
Stock DCF: 160.17 | 67.7 | undervalue

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 276.08353.30550.94511.12551.90668.72810.25981.741,189.531,441.30
Revenue (%)
Operating Cash Flow 89.4997.63112.95133.65139.30176.46213.81259.06313.89380.33
Operating Cash Flow (%)
Capital Expenditure -3.27-7.83-7.30-5.62-6.76-9.43-11.43-13.84-16.77-20.33
Capital Expenditure (%)
Free Cash Flow 86.2289.80105.65128.03132.54167.03202.38245.22297.12360

Weighted Average Cost Of Capital

Share price $ 67.7
Beta 1.821
Diluted Shares Outstanding 24.75
Cost of Debt
Tax Rate 23.59
After-tax Cost of Debt 1.14%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.150
Total Debt 834.28
Total Equity 1,675.25
Total Capital 2,509.52
Debt Weighting 33.24
Equity Weighting 66.76
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 276.08353.30550.94511.12551.90668.72810.25981.741,189.531,441.30
Operating Cash Flow 89.4997.63112.95133.65139.30176.46213.81259.06313.89380.33
Capital Expenditure -3.27-7.83-7.30-5.62-6.76-9.43-11.43-13.84-16.77-20.33
Free Cash Flow 86.2289.80105.65128.03132.54167.03202.38245.22297.12360
WACC
PV LFCF 153.96171.94192.03214.47239.53
SUM PV LFCF 971.93

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.49
Free cash flow (t + 1) 367.20
Terminal Value 5,657.96
Present Value of Terminal Value 3,764.54

Intrinsic Value

Enterprise Value 4,736.47
Net Debt 773.04
Equity Value 3,963.42
Shares Outstanding 24.75
Equity Value Per Share 160.17