Discounted Cash Flow (DCF) Analysis Levered
LiveRamp Holdings, Inc. (RAMP)
$24.97
+1.33 (+5.63%)
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 | 917.41 | 285.62 | 380.57 | 443.03 | 528.66 | 528.81 | 528.97 | 529.12 | 529.27 | 529.43 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 112.15 | -460.50 | -28.78 | -20.56 | 78.08 | -154.88 | -154.92 | -154.97 | -155.01 | -155.06 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -57.94 | -8.64 | -11.71 | -2.18 | -4.50 | -14.55 | -14.56 | -14.56 | -14.57 | -14.57 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 54.22 | -469.14 | -40.49 | -22.74 | 73.58 | -169.43 | -169.48 | -169.53 | -169.58 | -169.63 |
Weighted Average Cost Of Capital
| Share price | $ 24.97 |
|---|---|
| Beta | 1.102 |
| Diluted Shares Outstanding | 68.21 |
| Cost of Debt | |
| Tax Rate | 3.54 |
| After-tax Cost of Debt | 4.82% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.012 |
| Total Debt | 61.23 |
| Total Equity | 1,703.23 |
| Total Capital | 1,764.45 |
| Debt Weighting | 3.47 |
| Equity Weighting | 96.53 |
| 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 | 917.41 | 285.62 | 380.57 | 443.03 | 528.66 | 528.81 | 528.97 | 529.12 | 529.27 | 529.43 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 112.15 | -460.50 | -28.78 | -20.56 | 78.08 | -154.88 | -154.92 | -154.97 | -155.01 | -155.06 |
| Capital Expenditure | -57.94 | -8.64 | -11.71 | -2.18 | -4.50 | -14.55 | -14.56 | -14.56 | -14.57 | -14.57 |
| Free Cash Flow | 54.22 | -469.14 | -40.49 | -22.74 | 73.58 | -169.43 | -169.48 | -169.53 | -169.58 | -169.63 |
| WACC | ||||||||||
| PV LFCF | -155.63 | -142.99 | -131.38 | -120.71 | -110.91 | |||||
| SUM PV LFCF | -661.61 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.87 |
| Free cash flow (t + 1) | -173.02 |
| Terminal Value | -2,518.52 |
| Present Value of Terminal Value | -1,646.66 |
Intrinsic Value
| Enterprise Value | -2,308.28 |
|---|---|
| Net Debt | -538.94 |
| Equity Value | -1,769.34 |
| Shares Outstanding | 68.21 |
| Equity Value Per Share | -25.94 |