Discounted Cash Flow (DCF) Analysis Levered

EnPro Industries, Inc. (NPO)

$153.16

-2.36 (-1.52%)
All numbers are in Millions, Currency in USD
Stock DCF: 54.26 | 153.16 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 1,205.701,0741,141.801,099.201,059.301,027.60996.84967.01938.07910
Revenue (%)
Operating Cash Flow 207.6051.40142127.40207.80134.92130.88126.96123.16119.48
Operating Cash Flow (%)
Capital Expenditure -21.60-18.30-18.80-29.40-33.90-22.64-21.96-21.31-20.67-20.05
Capital Expenditure (%)
Free Cash Flow 18633.10123.2098173.90112.28108.92105.66102.4999.43

Weighted Average Cost Of Capital

Share price $ 153.16
Beta 1.543
Diluted Shares Outstanding 21
Cost of Debt
Tax Rate 41.11
After-tax Cost of Debt 4.10%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.493
Total Debt 646.80
Total Equity 3,216.36
Total Capital 3,863.16
Debt Weighting 16.74
Equity Weighting 83.26
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 1,205.701,0741,141.801,099.201,059.301,027.60996.84967.01938.07910
Operating Cash Flow 207.6051.40142127.40207.80134.92130.88126.96123.16119.48
Capital Expenditure -21.60-18.30-18.80-29.40-33.90-22.64-21.96-21.31-20.67-20.05
Free Cash Flow 18633.10123.2098173.90112.28108.92105.66102.4999.43
WACC
PV LFCF 101.8489.6178.8469.3761.04
SUM PV LFCF 400.70

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.25
Free cash flow (t + 1) 103.40
Terminal Value 1,654.47
Present Value of Terminal Value 1,015.70

Intrinsic Value

Enterprise Value 1,416.40
Net Debt 277
Equity Value 1,139.40
Shares Outstanding 21
Equity Value Per Share 54.26