Discounted Cash Flow (DCF) Analysis Levered
Magnachip Semiconductor Corporation (MX)
$8.19
+0.21 (+2.63%)
All numbers are in Millions, Currency in USD
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 | 750.90 | 792.20 | 507.06 | 474.23 | 337.66 | 282.14 | 235.75 | 196.99 | 164.60 | 137.54 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 39.24 | 50.50 | 7.47 | 87.74 | 5.16 | 18.68 | 15.61 | 13.04 | 10.90 | 9.11 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -34.19 | -24.06 | -36.84 | -32.83 | -23.78 | -16.26 | -13.59 | -11.36 | -9.49 | -7.93 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 5.04 | 26.44 | -29.37 | 54.92 | -18.62 | 2.42 | 2.02 | 1.69 | 1.41 | 1.18 |
Weighted Average Cost Of Capital
Share price | $ 8.19 |
---|---|
Beta | 0.948 |
Diluted Shares Outstanding | 44.85 |
Cost of Debt | |
Tax Rate | -179.12 |
After-tax Cost of Debt | 21.08% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.019 |
Total Debt | 5.49 |
Total Equity | 367.33 |
Total Capital | 372.82 |
Debt Weighting | 1.47 |
Equity Weighting | 98.53 |
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 | 750.90 | 792.20 | 507.06 | 474.23 | 337.66 | 282.14 | 235.75 | 196.99 | 164.60 | 137.54 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 39.24 | 50.50 | 7.47 | 87.74 | 5.16 | 18.68 | 15.61 | 13.04 | 10.90 | 9.11 |
Capital Expenditure | -34.19 | -24.06 | -36.84 | -32.83 | -23.78 | -16.26 | -13.59 | -11.36 | -9.49 | -7.93 |
Free Cash Flow | 5.04 | 26.44 | -29.37 | 54.92 | -18.62 | 2.42 | 2.02 | 1.69 | 1.41 | 1.18 |
WACC | ||||||||||
PV LFCF | 2.21 | 1.69 | 1.30 | 0.99 | 0.76 | |||||
SUM PV LFCF | 6.95 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.20 |
Free cash flow (t + 1) | 1.20 |
Terminal Value | 16.69 |
Present Value of Terminal Value | 10.75 |
Intrinsic Value
Enterprise Value | 17.70 |
---|---|
Net Debt | -219.99 |
Equity Value | 237.69 |
Shares Outstanding | 44.85 |
Equity Value Per Share | 5.30 |