Discounted Cash Flow (DCF) Analysis Levered

ORBCOMM Inc. (ORBC)

$11.49

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -2.42 | 11.49 | overvalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 186.74254.22276.14272.01248.47269.96293.32318.69346.26376.22
Revenue (%)
Operating Cash Flow 28.93-5.0411.4530.0848.4226.0228.2830.7233.3836.27
Operating Cash Flow (%)
Capital Expenditure -28.42-27.36-22.20-21.07-19.54-26.80-29.11-31.63-34.37-37.34
Capital Expenditure (%)
Free Cash Flow 0.50-32.40-10.749.0228.88-0.77-0.84-0.91-0.99-1.08

Weighted Average Cost Of Capital

Share price $ 11.49
Beta 1.567
Diluted Shares Outstanding 78.06
Cost of Debt
Tax Rate -5.51
After-tax Cost of Debt 9.14%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.220
Total Debt 218.30
Total Equity 896.90
Total Capital 1,115.19
Debt Weighting 19.57
Equity Weighting 80.43
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 186.74254.22276.14272.01248.47269.96293.32318.69346.26376.22
Operating Cash Flow 28.93-5.0411.4530.0848.4226.0228.2830.7233.3836.27
Capital Expenditure -28.42-27.36-22.20-21.07-19.54-26.80-29.11-31.63-34.37-37.34
Free Cash Flow 0.50-32.40-10.749.0228.88-0.77-0.84-0.91-0.99-1.08
WACC
PV LFCF -0.42-0.41-0.40-0.39-0.39
SUM PV LFCF -3.35

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.81
Free cash flow (t + 1) -1.10
Terminal Value -12.46
Present Value of Terminal Value -7.46

Intrinsic Value

Enterprise Value -10.81
Net Debt 177.91
Equity Value -188.72
Shares Outstanding 78.06
Equity Value Per Share -2.42