Discounted Cash Flow (DCF) Analysis Levered
Patterson Companies, Inc. (PDCO)
$26.08
-0.42 (-1.58%)
All numbers are in Millions, Currency in USD
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 | 5,465.68 | 5,574.52 | 5,490.01 | 5,912.07 | 6,499.41 | 6,793.46 | 7,100.83 | 7,422.10 | 7,757.90 | 8,108.90 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 178.89 | 48.16 | -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 | $ 26.08 |
|---|---|
| Beta | 1.211 |
| 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 | 9.416 |
| Total Debt | 590.23 |
| Total Equity | 2,569.25 |
| Total Capital | 3,159.48 |
| Debt Weighting | 18.68 |
| Equity Weighting | 81.32 |
| 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 | 5,465.68 | 5,574.52 | 5,490.01 | 5,912.07 | 6,499.41 | 6,793.46 | 7,100.83 | 7,422.10 | 7,757.90 | 8,108.90 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 178.89 | 48.16 | -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 | -394.70 | -381.47 | -368.68 | -356.32 | -344.37 | |||||
| SUM PV LFCF | -1,845.53 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.15 |
| Free cash flow (t + 1) | -519.71 |
| Terminal Value | -8,450.58 |
| Present Value of Terminal Value | -5,711.55 |
Intrinsic Value
| Enterprise Value | -7,557.08 |
|---|---|
| Net Debt | 448.22 |
| Equity Value | -8,005.30 |
| Shares Outstanding | 98.51 |
| Equity Value Per Share | -81.26 |