Discounted Cash Flow (DCF) Analysis Levered

Quotient Technology Inc. (QUOT)

$2.265

+0.15 (+6.84%)
All numbers are in Millions, Currency in USD
Stock DCF: 6.00 | 2.265 | undervalue

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 322.12386.96436.16445.89521.49589.33665.99752.62850.52961.16
Revenue (%)
Operating Cash Flow 48.4622.0531.8226.4626.0145.9251.8958.6466.2774.89
Operating Cash Flow (%)
Capital Expenditure -6.48-26.62-23.83-11.37-14.72-23.25-26.28-29.69-33.56-37.92
Capital Expenditure (%)
Free Cash Flow 41.98-4.577.9915.1011.2922.6725.6228.9532.7236.97

Weighted Average Cost Of Capital

Share price $ 2.265
Beta 1.116
Diluted Shares Outstanding 94.13
Cost of Debt
Tax Rate -8.66
After-tax Cost of Debt 7.04%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.974
Total Debt 215.69
Total Equity 213.21
Total Capital 428.90
Debt Weighting 50.29
Equity Weighting 49.71
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 322.12386.96436.16445.89521.49589.33665.99752.62850.52961.16
Operating Cash Flow 48.4622.0531.8226.4626.0145.9251.8958.6466.2774.89
Capital Expenditure -6.48-26.62-23.83-11.37-14.72-23.25-26.28-29.69-33.56-37.92
Free Cash Flow 41.98-4.577.9915.1011.2922.6725.6228.9532.7236.97
WACC
PV LFCF 20.9921.9622.9824.0525.16
SUM PV LFCF 115.14

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.00
Free cash flow (t + 1) 37.71
Terminal Value 628.51
Present Value of Terminal Value 427.76

Intrinsic Value

Enterprise Value 542.90
Net Debt -21.73
Equity Value 564.63
Shares Outstanding 94.13
Equity Value Per Share 6.00