Discounted Cash Flow (DCF) Analysis Levered

Phibro Animal Health Corporation (PAHC)

$12.88

+0.04 (+0.31%)
All numbers are in Millions, Currency in USD
Stock DCF: -6.23 | 12.88 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 828800.40833.40942.30977.891,0211,066.011,1131,162.071,213.29
Revenue (%)
Operating Cash Flow 47.1759.3548.3131.6513.3148.2550.3752.5954.9157.33
Operating Cash Flow (%)
Capital Expenditure -29.89-34.04-29.32-37.04-51.79-42.08-43.94-45.88-47.90-50.01
Capital Expenditure (%)
Free Cash Flow 17.2825.3018.99-5.39-38.486.166.436.727.017.32

Weighted Average Cost Of Capital

Share price $ 12.88
Beta 0.700
Diluted Shares Outstanding 40.50
Cost of Debt
Tax Rate 39.70
After-tax Cost of Debt 2.58%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.589
Total Debt 509.97
Total Equity 521.69
Total Capital 1,031.66
Debt Weighting 49.43
Equity Weighting 50.57
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 828800.40833.40942.30977.891,0211,066.011,1131,162.071,213.29
Operating Cash Flow 47.1759.3548.3131.6513.3148.2550.3752.5954.9157.33
Capital Expenditure -29.89-34.04-29.32-37.04-51.79-42.08-43.94-45.88-47.90-50.01
Free Cash Flow 17.2825.3018.99-5.39-38.486.166.436.727.017.32
WACC
PV LFCF 4.804.774.744.714.68
SUM PV LFCF 28.93

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.11
Free cash flow (t + 1) 7.47
Terminal Value 240.21
Present Value of Terminal Value 187.22

Intrinsic Value

Enterprise Value 216.15
Net Debt 468.69
Equity Value -252.53
Shares Outstanding 40.50
Equity Value Per Share -6.23