Discounted Cash Flow (DCF) Analysis Levered

NV5 Global, Inc. (NVEE)

$146.16

+1.19 (+0.82%)
All numbers are in Millions, Currency in USD
Stock DCF: 160.62 | 146.16 | undervalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 333.03418.08508.94629.22777.94961.801,189.111,470.151,817.622,247.202,778.32
Revenue (%)
Operating Cash Flow 17.623539.9045.1055.7668.9485.23105.38130.28161.08199.14
Operating Cash Flow (%)
Capital Expenditure -2.24-2.20-2.63-3.60-4.45-5.50-6.80-8.40-10.39-12.85-15.88
Capital Expenditure (%)
Free Cash Flow 15.3932.8037.2841.5051.3163.4478.4496.97119.89148.23183.26

Weighted Average Cost Of Capital

Share price $ 146.16
Beta 1.099
Diluted Shares Outstanding 14.66
Cost of Debt
Tax Rate 24.09
After-tax Cost of Debt 3.27%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.692
Total Debt 144.69
Total Equity 2,142.18
Total Capital 2,286.87
Debt Weighting 6.33
Equity Weighting 93.67
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 333.03418.08508.94629.22777.94961.801,189.111,470.151,817.622,247.202,778.32
Operating Cash Flow 17.623539.9045.1055.7668.9485.23105.38130.28161.08199.14
Capital Expenditure -2.24-2.20-2.63-3.60-4.45-5.50-6.80-8.40-10.39-12.85-15.88
Free Cash Flow 15.3932.8037.2841.5051.3163.4478.4496.97119.89148.23183.26
WACC
PV LFCF 44.9751.3158.5566.8176.2486.9999.26113.27
SUM PV LFCF 479.52

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.35
Free cash flow (t + 1) 186.93
Terminal Value 2,943.73
Present Value of Terminal Value 1,971.30

Intrinsic Value

Enterprise Value 2,450.83
Net Debt 96.71
Equity Value 2,354.11
Shares Outstanding 14.66
Equity Value Per Share 160.62