Discounted Cash Flow (DCF) Analysis Levered
Nutanix, Inc. (NTNX)
$29.78
+0.41 (+1.40%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 1,155.46 | 1,236.14 | 1,307.68 | 1,394.36 | 1,580.80 | 1,710.30 | 1,850.41 | 2,002.01 | 2,166.02 | 2,343.47 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 92.55 | 42.17 | -159.88 | -99.81 | 67.54 | -12.62 | -13.66 | -14.78 | -15.99 | -17.30 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -62.37 | -118.45 | -89.49 | -58.65 | -49.06 | -99.65 | -107.82 | -116.65 | -126.21 | -136.54 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 30.18 | -76.28 | -249.37 | -158.46 | 18.49 | -112.28 | -121.47 | -131.43 | -142.19 | -153.84 |
Weighted Average Cost Of Capital
| Share price | $ 29.78 |
|---|---|
| Beta | 1.356 |
| Diluted Shares Outstanding | 220.53 |
| Cost of Debt | |
| Tax Rate | -2.48 |
| After-tax Cost of Debt | 4.24% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.146 |
| Total Debt | 1,431.24 |
| Total Equity | 6,567.35 |
| Total Capital | 7,998.60 |
| Debt Weighting | 17.89 |
| Equity Weighting | 82.11 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 1,155.46 | 1,236.14 | 1,307.68 | 1,394.36 | 1,580.80 | 1,710.30 | 1,850.41 | 2,002.01 | 2,166.02 | 2,343.47 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 92.55 | 42.17 | -159.88 | -99.81 | 67.54 | -12.62 | -13.66 | -14.78 | -15.99 | -17.30 |
| Capital Expenditure | -62.37 | -118.45 | -89.49 | -58.65 | -49.06 | -99.65 | -107.82 | -116.65 | -126.21 | -136.54 |
| Free Cash Flow | 30.18 | -76.28 | -249.37 | -158.46 | 18.49 | -112.28 | -121.47 | -131.43 | -142.19 | -153.84 |
| WACC | ||||||||||
| PV LFCF | -66.62 | -66.07 | -65.52 | -64.98 | -64.45 | |||||
| SUM PV LFCF | -506.20 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.09 |
| Free cash flow (t + 1) | -156.92 |
| Terminal Value | -2,213.24 |
| Present Value of Terminal Value | -1,432.53 |
Intrinsic Value
| Enterprise Value | -1,938.73 |
|---|---|
| Net Debt | 1,028.39 |
| Equity Value | -2,967.13 |
| Shares Outstanding | 220.53 |
| Equity Value Per Share | -13.45 |