Discounted Cash Flow (DCF) Analysis Levered

Party City Holdco Inc. (PRTY)

$1.7295

+0.04 (+2.34%)
All numbers are in Millions, Currency in USD
Stock DCF: -4.53 | 1.7295 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 2,371.572,427.522,348.791,850.692,171.062,145.122,119.482,094.162,069.132,044.41
Revenue (%)
Operating Cash Flow 267.92101.8643.6977.2051.93102.61101.38100.1798.9797.79
Operating Cash Flow (%)
Capital Expenditure -66.97-85.66-61.73-51.13-79.22-66.04-65.25-64.47-63.70-62.94
Capital Expenditure (%)
Free Cash Flow 200.9516.19-18.0426.07-27.2936.5736.1335.7035.2834.85

Weighted Average Cost Of Capital

Share price $ 1.7,295
Beta 2.821
Diluted Shares Outstanding 100.80
Cost of Debt
Tax Rate -653.09
After-tax Cost of Debt 10.18%
Risk-Free Rate
Market Risk Premium
Cost of Equity 17.270
Total Debt 856.49
Total Equity 174.34
Total Capital 1,030.84
Debt Weighting 83.09
Equity Weighting 16.91
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 2,371.572,427.522,348.791,850.692,171.062,145.122,119.482,094.162,069.132,044.41
Operating Cash Flow 267.92101.8643.6977.2051.93102.61101.38100.1798.9797.79
Capital Expenditure -66.97-85.66-61.73-51.13-79.22-66.04-65.25-64.47-63.70-62.94
Free Cash Flow 200.9516.19-18.0426.07-27.2936.5736.1335.7035.2834.85
WACC
PV LFCF 21.3418.9316.7914.8913.21
SUM PV LFCF 131.06

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 11.38
Free cash flow (t + 1) 35.55
Terminal Value 379.01
Present Value of Terminal Value 221.12

Intrinsic Value

Enterprise Value 352.17
Net Debt 808.58
Equity Value -456.41
Shares Outstanding 100.80
Equity Value Per Share -4.53