Discounted Cash Flow (DCF) Analysis Levered
Shoe Carnival, Inc. (SCVL)
$20.86
+1.22 (+6.21%)
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 | 1,029.65 | 1,036.55 | 976.77 | 1,330.39 | 1,262.23 | 1,344.23 | 1,431.55 | 1,524.54 | 1,623.57 | 1,729.03 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 74.14 | 66.95 | 63.39 | 147.89 | 50.44 | 94.80 | 100.96 | 107.52 | 114.50 | 121.94 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -7.41 | -18.50 | -12.40 | -31.39 | 3.16 | -15.82 | -16.84 | -17.94 | -19.10 | -20.34 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 66.73 | 48.44 | 51 | 116.51 | 53.60 | 78.98 | 84.11 | 89.58 | 95.40 | 101.59 |
Weighted Average Cost Of Capital
Share price | $ 20.86 |
---|---|
Beta | 1.416 |
Diluted Shares Outstanding | 27.81 |
Cost of Debt | |
Tax Rate | 25.19 |
After-tax Cost of Debt | 0.07% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.378 |
Total Debt | 343.23 |
Total Equity | 580.16 |
Total Capital | 923.39 |
Debt Weighting | 37.17 |
Equity Weighting | 62.83 |
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 | 1,029.65 | 1,036.55 | 976.77 | 1,330.39 | 1,262.23 | 1,344.23 | 1,431.55 | 1,524.54 | 1,623.57 | 1,729.03 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 74.14 | 66.95 | 63.39 | 147.89 | 50.44 | 94.80 | 100.96 | 107.52 | 114.50 | 121.94 |
Capital Expenditure | -7.41 | -18.50 | -12.40 | -31.39 | 3.16 | -15.82 | -16.84 | -17.94 | -19.10 | -20.34 |
Free Cash Flow | 66.73 | 48.44 | 51 | 116.51 | 53.60 | 78.98 | 84.11 | 89.58 | 95.40 | 101.59 |
WACC | ||||||||||
PV LFCF | 65.29 | 65.26 | 65.23 | 65.20 | 65.16 | |||||
SUM PV LFCF | 370.26 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.55 |
Free cash flow (t + 1) | 103.63 |
Terminal Value | 2,277.49 |
Present Value of Terminal Value | 1,658.40 |
Intrinsic Value
Enterprise Value | 2,028.66 |
---|---|
Net Debt | 291.86 |
Equity Value | 1,736.81 |
Shares Outstanding | 27.81 |
Equity Value Per Share | 62.45 |