Discounted Cash Flow (DCF) Analysis Levered
Magnachip Semiconductor Corporation (MX)
$11.22
+0.55 (+5.15%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 792.20 | 507.06 | 474.23 | 337.66 | 257.45 | 196.29 | 149.66 | 114.11 | 87 | 66.33 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 50.50 | 7.47 | 87.74 | 5.16 | 17.94 | 13.68 | 10.43 | 7.95 | 6.06 | 4.62 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -24.06 | -36.84 | -32.83 | -23.78 | -15.62 | -11.91 | -9.08 | -6.92 | -5.28 | -4.02 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 26.44 | -29.37 | 54.92 | -18.62 | 2.32 | 1.77 | 1.35 | 1.03 | 0.79 | 0.60 |
Weighted Average Cost Of Capital
Share price | $ 11.22 |
---|---|
Beta | 0.975 |
Diluted Shares Outstanding | 44.85 |
Cost of Debt | |
Tax Rate | -179.12 |
After-tax Cost of Debt | 5.00% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.349 |
Total Debt | 5.62 |
Total Equity | 503.23 |
Total Capital | 508.84 |
Debt Weighting | 1.10 |
Equity Weighting | 98.90 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 792.20 | 507.06 | 474.23 | 337.66 | 257.45 | 196.29 | 149.66 | 114.11 | 87 | 66.33 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 50.50 | 7.47 | 87.74 | 5.16 | 17.94 | 13.68 | 10.43 | 7.95 | 6.06 | 4.62 |
Capital Expenditure | -24.06 | -36.84 | -32.83 | -23.78 | -15.62 | -11.91 | -9.08 | -6.92 | -5.28 | -4.02 |
Free Cash Flow | 26.44 | -29.37 | 54.92 | -18.62 | 2.32 | 1.77 | 1.35 | 1.03 | 0.79 | 0.60 |
WACC | ||||||||||
PV LFCF | 1.56 | 1.10 | 0.77 | 0.54 | 0.38 | 0.27 | ||||
SUM PV LFCF | 4.57 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.31 |
Free cash flow (t + 1) | 0.61 |
Terminal Value | 9.68 |
Present Value of Terminal Value | 6.49 |
Intrinsic Value
Enterprise Value | 11.07 |
---|---|
Net Debt | -206.47 |
Equity Value | 217.53 |
Shares Outstanding | 44.85 |
Equity Value Per Share | 4.85 |