Discounted Cash Flow (DCF) Analysis Levered

Rayonier Advanced Materials Inc. (RYAM)

$3.39

+0.08 (+2.42%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: -5.61 | 3.39 | 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 2,1341,7751,7391,4081,7171,648.581,582.891,519.821,459.261,401.11
Revenue (%)
Operating Cash Flow 2474212423269137.05131.59126.35121.31116.48
Operating Cash Flow (%)
Capital Expenditure -132-103-77-95-138-102.87-98.77-94.84-91.06-87.43
Capital Expenditure (%)
Free Cash Flow 115-6147137-6934.1832.8231.5130.2529.05

Weighted Average Cost Of Capital

Share price $ 3.39
Beta 3.199
Diluted Shares Outstanding 63.91
Cost of Debt
Tax Rate -4.17
After-tax Cost of Debt 7.74%
Risk-Free Rate
Market Risk Premium
Cost of Equity 19.835
Total Debt 853
Total Equity 216.65
Total Capital 1,069.65
Debt Weighting 79.75
Equity Weighting 20.25
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 2,1341,7751,7391,4081,7171,648.581,582.891,519.821,459.261,401.11
Operating Cash Flow 2474212423269137.05131.59126.35121.31116.48
Capital Expenditure -132-103-77-95-138-102.87-98.77-94.84-91.06-87.43
Free Cash Flow 115-6147137-6934.1832.8231.5130.2529.05
WACC
PV LFCF 31.0227.0323.5520.5217.88
SUM PV LFCF 120

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.19
Free cash flow (t + 1) 29.63
Terminal Value 361.78
Present Value of Terminal Value 222.71

Intrinsic Value

Enterprise Value 342.71
Net Debt 701
Equity Value -358.29
Shares Outstanding 63.91
Equity Value Per Share -5.61