Discounted Cash Flow (DCF) Analysis Levered
ORBCOMM Inc. (ORBC)
$11.49
0.00 (0.00%)
All numbers are in Millions, Currency in USD
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 | 186.74 | 254.22 | 276.14 | 272.01 | 248.47 | 269.96 | 293.32 | 318.69 | 346.26 | 376.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 28.93 | -5.04 | 11.45 | 30.08 | 48.42 | 26.02 | 28.28 | 30.72 | 33.38 | 36.27 |
| 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 | -10.74 | 9.02 | 28.88 | -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 | 11.952 |
| 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 | 186.74 | 254.22 | 276.14 | 272.01 | 248.47 | 269.96 | 293.32 | 318.69 | 346.26 | 376.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 28.93 | -5.04 | 11.45 | 30.08 | 48.42 | 26.02 | 28.28 | 30.72 | 33.38 | 36.27 |
| 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 | -10.74 | 9.02 | 28.88 | -0.77 | -0.84 | -0.91 | -0.99 | -1.08 |
| WACC | ||||||||||
| PV LFCF | -0.40 | -0.39 | -0.38 | -0.37 | -0.37 | |||||
| SUM PV LFCF | -3.30 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.40 |
| Free cash flow (t + 1) | -1.10 |
| Terminal Value | -11.67 |
| Present Value of Terminal Value | -6.80 |
Intrinsic Value
| Enterprise Value | -10.10 |
|---|---|
| Net Debt | 177.91 |
| Equity Value | -188.02 |
| Shares Outstanding | 78.06 |
| Equity Value Per Share | -2.41 |