Discounted Cash Flow (DCF) Analysis Levered

OneWater Marine Inc. (ONEW)

$31.12

-0.45 (-1.43%)
All numbers are in Millions, Currency in USD
Stock DCF: 479.82 | 31.12 | undervalue

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 602.80767.621,022.971,228.211,744.822,280.192,979.813,894.115,088.946,650.38
Revenue (%)
Operating Cash Flow -4.65-5.70212.48159.427.45148.96194.66254.39332.44434.44
Operating Cash Flow (%)
Capital Expenditure -10.13-7.29-6.31-9.90-11.40-21.47-28.05-36.66-47.91-62.61
Capital Expenditure (%)
Free Cash Flow -14.79-12.99206.17149.53-3.96127.49166.61217.73284.53371.84

Weighted Average Cost Of Capital

Share price $ 31.12
Beta 2.442
Diluted Shares Outstanding 14.34
Cost of Debt
Tax Rate 33.14
After-tax Cost of Debt 1.43%
Risk-Free Rate
Market Risk Premium
Cost of Equity 15.076
Total Debt 835.02
Total Equity 446.17
Total Capital 1,281.19
Debt Weighting 65.18
Equity Weighting 34.82
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 602.80767.621,022.971,228.211,744.822,280.192,979.813,894.115,088.946,650.38
Operating Cash Flow -4.65-5.70212.48159.427.45148.96194.66254.39332.44434.44
Capital Expenditure -10.13-7.29-6.31-9.90-11.40-21.47-28.05-36.66-47.91-62.61
Free Cash Flow -14.79-12.99206.17149.53-3.96127.49166.61217.73284.53371.84
WACC
PV LFCF 120.07147.78181.88223.85275.51
SUM PV LFCF 949.09

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.18
Free cash flow (t + 1) 379.27
Terminal Value 9,073.53
Present Value of Terminal Value 6,723

Intrinsic Value

Enterprise Value 7,672.09
Net Debt 792.95
Equity Value 6,879.14
Shares Outstanding 14.34
Equity Value Per Share 479.82