Discounted Cash Flow (DCF) Analysis Levered
The Beauty Health Company (SKIN)
$11.4
+0.09 (+0.80%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 166.62 | 119.09 | 260.09 | 365.88 | 525.08 | 753.56 | 1,081.46 | 1,552.04 | 2,227.38 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||
| Operating Cash Flow | 1.73 | -12.44 | -12.23 | -17.21 | -24.69 | -35.44 | -50.86 | -72.99 | -104.75 |
| Operating Cash Flow (%) | |||||||||
| Capital Expenditure | -10.42 | -3.82 | 0.32 | 0.09 | -12.22 | -17.54 | -25.18 | -36.13 | -51.85 |
| Capital Expenditure (%) | |||||||||
| Free Cash Flow | -8.69 | -16.25 | -11.91 | -17.12 | -36.92 | -52.98 | -76.03 | -109.12 | -156.60 |
Weighted Average Cost Of Capital
| Share price | $ 11.4 |
|---|---|
| Beta | 1.153 |
| Diluted Shares Outstanding | 148.51 |
| Cost of Debt | |
| Tax Rate | 1.44 |
| After-tax Cost of Debt | 1.75% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.925 |
| Total Debt | 751.79 |
| Total Equity | 1,692.97 |
| Total Capital | 2,444.76 |
| Debt Weighting | 30.75 |
| Equity Weighting | 69.25 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 166.62 | 119.09 | 260.09 | 365.88 | 525.08 | 753.56 | 1,081.46 | 1,552.04 | 2,227.38 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1.73 | -12.44 | -12.23 | -17.21 | -24.69 | -35.44 | -50.86 | -72.99 | -104.75 |
| Capital Expenditure | -10.42 | -3.82 | 0.32 | 0.09 | -12.22 | -17.54 | -25.18 | -36.13 | -51.85 |
| Free Cash Flow | -8.69 | -16.25 | -11.91 | -17.12 | -36.92 | -52.98 | -76.03 | -109.12 | -156.60 |
| WACC | |||||||||
| PV LFCF | -36.92 | -49.64 | -66.76 | -89.78 | -120.73 | ||||
| SUM PV LFCF | -340.91 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.72 |
| Free cash flow (t + 1) | -159.73 |
| Terminal Value | -3,384.12 |
| Present Value of Terminal Value | -2,444.65 |
Intrinsic Value
| Enterprise Value | -2,785.56 |
|---|---|
| Net Debt | 183.59 |
| Equity Value | -2,969.15 |
| Shares Outstanding | 148.51 |
| Equity Value Per Share | -19.99 |