Discounted Cash Flow (DCF) Analysis Levered

NFI Group Inc. (NFI.TO)

$12.14

-0.08 (-0.65%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.84 | 12.14 | overvalue

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 2,381.862,519.022,893.442,419.172,343.792,350.332,356.882,363.452,370.042,376.65
Revenue (%)
Operating Cash Flow 172.06175.1498.6166.06115.23118.61118.94119.27119.60119.93
Operating Cash Flow (%)
Capital Expenditure -53.01-71.04-37.61-25.73-36.26-42.10-42.22-42.34-42.45-42.57
Capital Expenditure (%)
Free Cash Flow 119.05104.106140.3378.9776.5076.7276.9377.1577.36

Weighted Average Cost Of Capital

Share price $ 12.14
Beta 1.498
Diluted Shares Outstanding 70.04
Cost of Debt
Tax Rate -193.91
After-tax Cost of Debt 7.65%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.875
Total Debt 955.85
Total Equity 850.28
Total Capital 1,806.14
Debt Weighting 52.92
Equity Weighting 47.08
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 2,381.862,519.022,893.442,419.172,343.792,350.332,356.882,363.452,370.042,376.65
Operating Cash Flow 172.06175.1498.6166.06115.23118.61118.94119.27119.60119.93
Capital Expenditure -53.01-71.04-37.61-25.73-36.26-42.10-42.22-42.34-42.45-42.57
Free Cash Flow 119.05104.106140.3378.9776.5076.7276.9377.1577.36
WACC
PV LFCF 70.0864.3759.1354.3149.89
SUM PV LFCF 297.78

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.17
Free cash flow (t + 1) 78.91
Terminal Value 1,100.54
Present Value of Terminal Value 709.72

Intrinsic Value

Enterprise Value 1,007.51
Net Debt 878.54
Equity Value 128.97
Shares Outstanding 70.04
Equity Value Per Share 1.84