Discounted Cash Flow (DCF) Analysis Levered

Patterson Companies, Inc. (PDCO)

$30.3

-0.73 (-2.35%)
All numbers are in Millions, Currency in USD
Stock DCF: -78.58 | 30.3 | overvalue

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 5,465.685,574.525,490.015,912.076,499.416,793.467,100.837,422.107,757.908,108.90
Revenue (%)
Operating Cash Flow 178.8948.16-243.54-730.52-980.99-377.03-394.08-411.91-430.55-450.03
Operating Cash Flow (%)
Capital Expenditure -43.26-60.73-41.81-25.79-38.31-49.84-52.09-54.45-56.91-59.49
Capital Expenditure (%)
Free Cash Flow 135.63-12.58-285.35-756.31-1,019.30-426.87-446.18-466.37-487.47-509.52

Weighted Average Cost Of Capital

Share price $ 30.3
Beta 1.267
Diluted Shares Outstanding 98.51
Cost of Debt
Tax Rate 23.68
After-tax Cost of Debt 2.63%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.511
Total Debt 590.23
Total Equity 2,984.97
Total Capital 3,575.21
Debt Weighting 16.51
Equity Weighting 83.49
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 5,465.685,574.525,490.015,912.076,499.416,793.467,100.837,422.107,757.908,108.90
Operating Cash Flow 178.8948.16-243.54-730.52-980.99-377.03-394.08-411.91-430.55-450.03
Capital Expenditure -43.26-60.73-41.81-25.79-38.31-49.84-52.09-54.45-56.91-59.49
Free Cash Flow 135.63-12.58-285.35-756.31-1,019.30-426.87-446.18-466.37-487.47-509.52
WACC
PV LFCF -393.90-379.92-366.44-353.43-340.89
SUM PV LFCF -1,834.58

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.37
Free cash flow (t + 1) -519.71
Terminal Value -8,158.72
Present Value of Terminal Value -5,458.54

Intrinsic Value

Enterprise Value -7,293.12
Net Debt 448.22
Equity Value -7,741.34
Shares Outstanding 98.51
Equity Value Per Share -78.58