Discounted Cash Flow (DCF) Analysis Levered
NetScout Systems, Inc. (NTCT)
$30.73
-0.26 (-0.84%)
All numbers are in Millions, Currency in USD
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 | 909.92 | 891.82 | 831.28 | 855.58 | 914.53 | 916.90 | 919.27 | 921.65 | 924.04 | 926.43 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 149.84 | 225.02 | 213.92 | 296.01 | 233.28 | 233.88 | 234.49 | 235.09 | 235.70 | 236.31 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -23.53 | -19.92 | -16.52 | -10.40 | -18.34 | -18.39 | -18.44 | -18.49 | -18.53 | -18.58 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 126.31 | 205.10 | 197.40 | 285.61 | 214.93 | 215.49 | 216.05 | 216.61 | 217.17 | 217.73 |
Weighted Average Cost Of Capital
Share price | $ 30.73 |
---|---|
Beta | 0.701 |
Diluted Shares Outstanding | 75.08 |
Cost of Debt | |
Tax Rate | 12.81 |
After-tax Cost of Debt | 5.02% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.008 |
Total Debt | 160.47 |
Total Equity | 2,307.33 |
Total Capital | 2,467.80 |
Debt Weighting | 6.50 |
Equity Weighting | 93.50 |
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 | 909.92 | 891.82 | 831.28 | 855.58 | 914.53 | 916.90 | 919.27 | 921.65 | 924.04 | 926.43 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 149.84 | 225.02 | 213.92 | 296.01 | 233.28 | 233.88 | 234.49 | 235.09 | 235.70 | 236.31 |
Capital Expenditure | -23.53 | -19.92 | -16.52 | -10.40 | -18.34 | -18.39 | -18.44 | -18.49 | -18.53 | -18.58 |
Free Cash Flow | 126.31 | 205.10 | 197.40 | 285.61 | 214.93 | 215.49 | 216.05 | 216.61 | 217.17 | 217.73 |
WACC | ||||||||||
PV LFCF | 201.62 | 189.13 | 177.41 | 166.42 | 156.11 | |||||
SUM PV LFCF | 890.70 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.88 |
Free cash flow (t + 1) | 222.09 |
Terminal Value | 4,550.95 |
Present Value of Terminal Value | 3,263.02 |
Intrinsic Value
Enterprise Value | 4,153.72 |
---|---|
Net Debt | 160.47 |
Equity Value | 3,993.25 |
Shares Outstanding | 75.08 |
Equity Value Per Share | 53.18 |