Discounted Cash Flow (DCF) Analysis Levered

Rogers Sugar Inc. (RSI.TO)

$6.19

+0.09 (+1.48%)
All numbers are in Millions, Currency in USD
Stock DCF: 11.02 | 6.19 | 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 682.52805.20794.29860.80893.93958.391,027.491,101.581,181.011,266.17
Revenue (%)
Operating Cash Flow 55.1352.9155.8764.6078.5872.8078.0483.6789.7196.17
Operating Cash Flow (%)
Capital Expenditure -17.30-23.66-27.01-26.15-24.68-28.12-30.15-32.33-34.66-37.16
Capital Expenditure (%)
Free Cash Flow 37.8329.2628.8638.4553.9044.6747.8951.3555.0559.02

Weighted Average Cost Of Capital

Share price $ 6.19
Beta 0.606
Diluted Shares Outstanding 103.97
Cost of Debt
Tax Rate 26.95
After-tax Cost of Debt 3.56%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.737
Total Debt 365.02
Total Equity 643.60
Total Capital 1,008.62
Debt Weighting 36.19
Equity Weighting 63.81
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 682.52805.20794.29860.80893.93958.391,027.491,101.581,181.011,266.17
Operating Cash Flow 55.1352.9155.8764.6078.5872.8078.0483.6789.7196.17
Capital Expenditure -17.30-23.66-27.01-26.15-24.68-28.12-30.15-32.33-34.66-37.16
Free Cash Flow 37.8329.2628.8638.4553.9044.6747.8951.3555.0559.02
WACC
PV LFCF 42.3142.9643.6244.2944.96
SUM PV LFCF 218.13

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.59
Free cash flow (t + 1) 60.20
Terminal Value 1,676.84
Present Value of Terminal Value 1,277.55

Intrinsic Value

Enterprise Value 1,495.68
Net Debt 349.38
Equity Value 1,146.31
Shares Outstanding 103.97
Equity Value Per Share 11.02