Discounted Cash Flow (DCF) Analysis Levered

Stitch Fix, Inc. (SFIX)

$3.12

-0.01 (-0.32%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.96 | 3.12 | overvalue

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 1,577.561,711.732,101.262,072.811,638.421,675.091,712.571,750.901,790.081,830.14
Revenue (%)
Operating Cash Flow 78.5942.88-15.6855.4057.8343.3644.3345.3246.3447.37
Operating Cash Flow (%)
Capital Expenditure -30.82-30.21-35.26-46.35-19.01-29.46-30.12-30.79-31.48-32.18
Capital Expenditure (%)
Free Cash Flow 47.7712.67-50.939.0438.8213.9014.2114.5314.8615.19

Weighted Average Cost Of Capital

Share price $ 3.12
Beta 2.244
Diluted Shares Outstanding 114.68
Cost of Debt
Tax Rate -0.87
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 15.029
Total Debt 154.76
Total Equity 357.82
Total Capital 512.58
Debt Weighting 30.19
Equity Weighting 69.81
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 1,577.561,711.732,101.262,072.811,638.421,675.091,712.571,750.901,790.081,830.14
Operating Cash Flow 78.5942.88-15.6855.4057.8343.3644.3345.3246.3447.37
Capital Expenditure -30.82-30.21-35.26-46.35-19.01-29.46-30.12-30.79-31.48-32.18
Free Cash Flow 47.7712.67-50.939.0438.8213.9014.2114.5314.8615.19
WACC
PV LFCF 12.4111.3310.349.448.62
SUM PV LFCF 52.15

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 12.00
Free cash flow (t + 1) 15.49
Terminal Value 154.94
Present Value of Terminal Value 87.92

Intrinsic Value

Enterprise Value 140.07
Net Debt -84.68
Equity Value 224.74
Shares Outstanding 114.68
Equity Value Per Share 1.96