Discounted Cash Flow (DCF) Analysis Levered
PROS Holdings, Inc. (PRO)
$25.68
+0.17 (+0.67%)
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 | 197.02 | 250.33 | 252.42 | 251.42 | 276.14 | 301.90 | 330.08 | 360.88 | 394.55 | 431.37 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 5.70 | 5.25 | -49.39 | -18.55 | -23.91 | -18.48 | -20.21 | -22.10 | -24.16 | -26.41 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -6.21 | -6.76 | -30.18 | -2.80 | -0.86 | -11.61 | -12.70 | -13.88 | -15.18 | -16.59 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -0.51 | -1.51 | -79.57 | -21.35 | -24.77 | -30.10 | -32.91 | -35.98 | -39.33 | -43 |
Weighted Average Cost Of Capital
| Share price | $ 25.68 |
|---|---|
| Beta | 1.100 |
| Diluted Shares Outstanding | 45.27 |
| Cost of Debt | |
| Tax Rate | -1.15 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.718 |
| Total Debt | 325.63 |
| Total Equity | 1,162.51 |
| Total Capital | 1,488.13 |
| Debt Weighting | 21.88 |
| Equity Weighting | 78.12 |
| 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 | 197.02 | 250.33 | 252.42 | 251.42 | 276.14 | 301.90 | 330.08 | 360.88 | 394.55 | 431.37 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 5.70 | 5.25 | -49.39 | -18.55 | -23.91 | -18.48 | -20.21 | -22.10 | -24.16 | -26.41 |
| Capital Expenditure | -6.21 | -6.76 | -30.18 | -2.80 | -0.86 | -11.61 | -12.70 | -13.88 | -15.18 | -16.59 |
| Free Cash Flow | -0.51 | -1.51 | -79.57 | -21.35 | -24.77 | -30.10 | -32.91 | -35.98 | -39.33 | -43 |
| WACC | ||||||||||
| PV LFCF | -27.89 | -28.26 | -28.64 | -29.02 | -29.40 | |||||
| SUM PV LFCF | -143.22 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.90 |
| Free cash flow (t + 1) | -43.86 |
| Terminal Value | -743.45 |
| Present Value of Terminal Value | -508.33 |
Intrinsic Value
| Enterprise Value | -651.55 |
|---|---|
| Net Debt | 122 |
| Equity Value | -773.55 |
| Shares Outstanding | 45.27 |
| Equity Value Per Share | -17.09 |