Discounted Cash Flow (DCF) Analysis Levered
Scholastic Corporation (SCHL)
$38.37
-0.30 (-0.78%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 1,653.90 | 1,487.10 | 1,300.30 | 1,642.90 | 1,704 | 1,735.61 | 1,767.81 | 1,800.60 | 1,834 | 1,868.02 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 116.40 | 2.10 | 71 | 226 | 148.90 | 121.96 | 124.22 | 126.52 | 128.87 | 131.26 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -95 | -66 | -47.20 | -42 | -62 | -69.45 | -70.74 | -72.05 | -73.39 | -74.75 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 21.40 | -63.90 | 23.80 | 184 | 86.90 | 52.51 | 53.48 | 54.47 | 55.49 | 56.51 |
Weighted Average Cost Of Capital
Share price | $ 38.37 |
---|---|
Beta | 1.070 |
Diluted Shares Outstanding | 34.73 |
Cost of Debt | |
Tax Rate | 23.04 |
After-tax Cost of Debt | -4.65% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.645 |
Total Debt | 101 |
Total Equity | 1,332.67 |
Total Capital | 1,433.67 |
Debt Weighting | 7.04 |
Equity Weighting | 92.96 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 1,653.90 | 1,487.10 | 1,300.30 | 1,642.90 | 1,704 | 1,735.61 | 1,767.81 | 1,800.60 | 1,834 | 1,868.02 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 116.40 | 2.10 | 71 | 226 | 148.90 | 121.96 | 124.22 | 126.52 | 128.87 | 131.26 |
Capital Expenditure | -95 | -66 | -47.20 | -42 | -62 | -69.45 | -70.74 | -72.05 | -73.39 | -74.75 |
Free Cash Flow | 21.40 | -63.90 | 23.80 | 184 | 86.90 | 52.51 | 53.48 | 54.47 | 55.49 | 56.51 |
WACC | ||||||||||
PV LFCF | 48.33 | 45.31 | 42.48 | 39.83 | 37.34 | |||||
SUM PV LFCF | 213.30 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.64 |
Free cash flow (t + 1) | 57.64 |
Terminal Value | 868.14 |
Present Value of Terminal Value | 573.64 |
Intrinsic Value
Enterprise Value | 786.95 |
---|---|
Net Debt | -123.50 |
Equity Value | 910.45 |
Shares Outstanding | 34.73 |
Equity Value Per Share | 26.21 |