Discounted Cash Flow (DCF) Analysis Levered
Stitch Fix, Inc. (SFIX)
$3.32
-0.11 (-3.21%)
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 | 1,577.56 | 1,711.73 | 2,101.26 | 2,072.81 | 1,638.42 | 1,675.09 | 1,712.57 | 1,750.90 | 1,790.08 | 1,830.14 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 78.59 | 42.88 | -15.68 | 55.40 | 57.83 | 43.36 | 44.33 | 45.32 | 46.34 | 47.37 |
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 | 47.77 | 12.67 | -50.93 | 9.04 | 38.82 | 13.90 | 14.21 | 14.53 | 14.86 | 15.19 |
Weighted Average Cost Of Capital
Share price | $ 3.32 |
---|---|
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 | 15.188 |
Total Debt | 154.76 |
Total Equity | 380.75 |
Total Capital | 535.52 |
Debt Weighting | 28.90 |
Equity Weighting | 71.10 |
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 | 1,577.56 | 1,711.73 | 2,101.26 | 2,072.81 | 1,638.42 | 1,675.09 | 1,712.57 | 1,750.90 | 1,790.08 | 1,830.14 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 78.59 | 42.88 | -15.68 | 55.40 | 57.83 | 43.36 | 44.33 | 45.32 | 46.34 | 47.37 |
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 | 47.77 | 12.67 | -50.93 | 9.04 | 38.82 | 13.90 | 14.21 | 14.53 | 14.86 | 15.19 |
WACC | ||||||||||
PV LFCF | 12.39 | 11.28 | 10.28 | 9.36 | 8.53 | |||||
SUM PV LFCF | 51.84 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 12.24 |
Free cash flow (t + 1) | 15.49 |
Terminal Value | 151.31 |
Present Value of Terminal Value | 84.94 |
Intrinsic Value
Enterprise Value | 136.78 |
---|---|
Net Debt | -84.68 |
Equity Value | 221.45 |
Shares Outstanding | 114.68 |
Equity Value Per Share | 1.93 |