Discounted Cash Flow (DCF) Analysis Levered

Ranger Energy Services, Inc. (RNGR)

$10.25

-0.01 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -27.34 | 10.25 | overvalue

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 303.10336.90187.80293.10608.50807.141,070.611,420.101,883.662,498.55
Revenue (%)
Operating Cash Flow 27.6051.9025.50-39.4044.5051.5968.4390.77120.40159.71
Operating Cash Flow (%)
Capital Expenditure -75.90-24.20-7.20-5.60-13.80-64.95-86.16-114.28-151.58-201.07
Capital Expenditure (%)
Free Cash Flow -48.3027.7018.30-4530.70-13.36-17.72-23.51-31.18-41.36

Weighted Average Cost Of Capital

Share price $ 10.25
Beta 0.584
Diluted Shares Outstanding 23.37
Cost of Debt
Tax Rate 5.63
After-tax Cost of Debt 24.60%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.041
Total Debt 28
Total Equity 239.55
Total Capital 267.55
Debt Weighting 10.47
Equity Weighting 89.53
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 303.10336.90187.80293.10608.50807.141,070.611,420.101,883.662,498.55
Operating Cash Flow 27.6051.9025.50-39.4044.5051.5968.4390.77120.40159.71
Capital Expenditure -75.90-24.20-7.20-5.60-13.80-64.95-86.16-114.28-151.58-201.07
Free Cash Flow -48.3027.7018.30-4530.70-13.36-17.72-23.51-31.18-41.36
WACC
PV LFCF -12.27-14.95-18.21-22.19-27.03
SUM PV LFCF -94.65

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.88
Free cash flow (t + 1) -42.81
Terminal Value -795.68
Present Value of Terminal Value -520

Intrinsic Value

Enterprise Value -614.65
Net Debt 24.30
Equity Value -638.95
Shares Outstanding 23.37
Equity Value Per Share -27.34