Discounted Cash Flow (DCF) Analysis Levered
Magnachip Semiconductor Corporation (MX)
$19.49
-0.15 (-0.76%)
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 | 679.67 | 750.90 | 792.20 | 507.06 | 474.23 | 442.83 | 413.50 | 386.12 | 360.55 | 336.67 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -18.44 | 39.24 | 50.50 | 7.47 | 87.74 | 25.56 | 23.87 | 22.29 | 20.81 | 19.43 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -33.87 | -34.19 | -24.06 | -36.84 | -32.83 | -23.70 | -22.13 | -20.67 | -19.30 | -18.02 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -52.31 | 5.04 | 26.44 | -29.37 | 54.92 | 1.86 | 1.74 | 1.62 | 1.51 | 1.41 |
Weighted Average Cost Of Capital
Share price | $ 19.49 |
---|---|
Beta | 1.079 |
Diluted Shares Outstanding | 47.71 |
Cost of Debt | |
Tax Rate | 23.34 |
After-tax Cost of Debt | 24.59% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.952 |
Total Debt | 4.28 |
Total Equity | 929.86 |
Total Capital | 934.13 |
Debt Weighting | 0.46 |
Equity Weighting | 99.54 |
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 | 679.67 | 750.90 | 792.20 | 507.06 | 474.23 | 442.83 | 413.50 | 386.12 | 360.55 | 336.67 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -18.44 | 39.24 | 50.50 | 7.47 | 87.74 | 25.56 | 23.87 | 22.29 | 20.81 | 19.43 |
Capital Expenditure | -33.87 | -34.19 | -24.06 | -36.84 | -32.83 | -23.70 | -22.13 | -20.67 | -19.30 | -18.02 |
Free Cash Flow | -52.31 | 5.04 | 26.44 | -29.37 | 54.92 | 1.86 | 1.74 | 1.62 | 1.51 | 1.41 |
WACC | ||||||||||
PV LFCF | 1.17 | 1.01 | 0.87 | 0.76 | 0.65 | |||||
SUM PV LFCF | 6.57 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.03 |
Free cash flow (t + 1) | 1.44 |
Terminal Value | 23.92 |
Present Value of Terminal Value | 16.26 |
Intrinsic Value
Enterprise Value | 22.83 |
---|---|
Net Debt | -275.27 |
Equity Value | 298.10 |
Shares Outstanding | 47.71 |
Equity Value Per Share | 6.25 |