Discounted Cash Flow (DCF) Analysis Levered

Sculptor Capital Management, Inc. (SCU)

$9.33

+0.49 (+5.54%)
All numbers are in Millions, Currency in USD
Stock DCF: 29.50 | 9.33 | 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 858.34507.22597.35897.02626.07621.10616.16611.27606.42601.60
Revenue (%)
Operating Cash Flow -283.68188.20211.978.6863.4062.9062.4061.9061.4160.92
Operating Cash Flow (%)
Capital Expenditure -4.99-5.83-1.94-2.64-3.68-3.65-3.62-3.59-3.56-3.53
Capital Expenditure (%)
Free Cash Flow -288.67182.37210.046.0459.7259.2558.7858.3157.8557.39

Weighted Average Cost Of Capital

Share price $ 9.33
Beta 1.742
Diluted Shares Outstanding 40.81
Cost of Debt
Tax Rate 144.94
After-tax Cost of Debt -3.03%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.861
Total Debt 231.23
Total Equity 380.76
Total Capital 611.99
Debt Weighting 37.78
Equity Weighting 62.22
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 858.34507.22597.35897.02626.07621.10616.16611.27606.42601.60
Operating Cash Flow -283.68188.20211.978.6863.4062.9062.4061.9061.4160.92
Capital Expenditure -4.99-5.83-1.94-2.64-3.68-3.65-3.62-3.59-3.56-3.53
Free Cash Flow -288.67182.37210.046.0459.7259.2558.7858.3157.8557.39
WACC
PV LFCF 55.7752.0848.6345.4142.40
SUM PV LFCF 244.29

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.24
Free cash flow (t + 1) 58.54
Terminal Value 1,380.60
Present Value of Terminal Value 1,020.07

Intrinsic Value

Enterprise Value 1,264.35
Net Debt 60.45
Equity Value 1,203.91
Shares Outstanding 40.81
Equity Value Per Share 29.50