Discounted Cash Flow (DCF) Analysis Levered
Stitch Fix, Inc. (SFIX)
$4.71
+1.03 (+27.99%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 1,226.51 | 1,577.56 | 1,711.73 | 2,101.26 | 2,072.81 | 2,376.12 | 2,723.80 | 3,122.36 | 3,579.24 | 4,102.97 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 72.18 | 78.59 | 42.88 | -15.68 | 55.40 | 72.70 | 83.34 | 95.53 | 109.51 | 125.54 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -16.57 | -30.82 | -30.21 | -35.26 | -46.35 | -42.69 | -48.94 | -56.10 | -64.31 | -73.72 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 55.61 | 47.77 | 12.67 | -50.93 | 9.04 | 30.01 | 34.40 | 39.44 | 45.21 | 51.82 |
Weighted Average Cost Of Capital
Share price | $ 4.71 |
---|---|
Beta | 2.233 |
Diluted Shares Outstanding | 108.76 |
Cost of Debt | |
Tax Rate | 1.12 |
After-tax Cost of Debt | 0.54% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 14.322 |
Total Debt | 170.35 |
Total Equity | 512.27 |
Total Capital | 682.62 |
Debt Weighting | 24.96 |
Equity Weighting | 75.04 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 1,226.51 | 1,577.56 | 1,711.73 | 2,101.26 | 2,072.81 | 2,376.12 | 2,723.80 | 3,122.36 | 3,579.24 | 4,102.97 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 72.18 | 78.59 | 42.88 | -15.68 | 55.40 | 72.70 | 83.34 | 95.53 | 109.51 | 125.54 |
Capital Expenditure | -16.57 | -30.82 | -30.21 | -35.26 | -46.35 | -42.69 | -48.94 | -56.10 | -64.31 | -73.72 |
Free Cash Flow | 55.61 | 47.77 | 12.67 | -50.93 | 9.04 | 30.01 | 34.40 | 39.44 | 45.21 | 51.82 |
WACC | ||||||||||
PV LFCF | 27.07 | 27.98 | 28.93 | 29.91 | 30.92 | |||||
SUM PV LFCF | 144.80 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 10.88 |
Free cash flow (t + 1) | 52.86 |
Terminal Value | 595.23 |
Present Value of Terminal Value | 355.16 |
Intrinsic Value
Enterprise Value | 499.96 |
---|---|
Net Debt | 39.41 |
Equity Value | 460.55 |
Shares Outstanding | 108.76 |
Equity Value Per Share | 4.23 |