Discounted Cash Flow (DCF) Analysis Levered
U.S. Silica Holdings, Inc. (SLCA)
$10.88
+0.06 (+0.55%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 1,240.85 | 1,577.30 | 1,474.48 | 845.88 | 1,103.88 | 1,127.24 | 1,151.09 | 1,175.44 | 1,200.32 | 1,225.71 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 238.16 | 310.71 | 144.05 | -10.53 | 169.35 | 141.48 | 144.48 | 147.53 | 150.66 | 153.84 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -388.21 | -349.86 | -122.29 | -34.92 | -30.52 | -154.78 | -158.05 | -161.40 | -164.81 | -168.30 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -150.05 | -39.16 | 21.76 | -45.45 | 138.83 | -13.29 | -13.57 | -13.86 | -14.15 | -14.45 |
Weighted Average Cost Of Capital
| Share price | $ 10.88 |
|---|---|
| Beta | 2.746 |
| Diluted Shares Outstanding | 73.63 |
| Cost of Debt | |
| Tax Rate | 8.94 |
| After-tax Cost of Debt | 4.98% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 16.088 |
| Total Debt | 1,301.02 |
| Total Equity | 801.14 |
| Total Capital | 2,102.16 |
| Debt Weighting | 61.89 |
| Equity Weighting | 38.11 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 1,240.85 | 1,577.30 | 1,474.48 | 845.88 | 1,103.88 | 1,127.24 | 1,151.09 | 1,175.44 | 1,200.32 | 1,225.71 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 238.16 | 310.71 | 144.05 | -10.53 | 169.35 | 141.48 | 144.48 | 147.53 | 150.66 | 153.84 |
| Capital Expenditure | -388.21 | -349.86 | -122.29 | -34.92 | -30.52 | -154.78 | -158.05 | -161.40 | -164.81 | -168.30 |
| Free Cash Flow | -150.05 | -39.16 | 21.76 | -45.45 | 138.83 | -13.29 | -13.57 | -13.86 | -14.15 | -14.45 |
| WACC | ||||||||||
| PV LFCF | -12.17 | -11.38 | -10.64 | -9.95 | -9.30 | |||||
| SUM PV LFCF | -53.45 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.21 |
| Free cash flow (t + 1) | -14.74 |
| Terminal Value | -204.48 |
| Present Value of Terminal Value | -131.63 |
Intrinsic Value
| Enterprise Value | -185.07 |
|---|---|
| Net Debt | 1,061.59 |
| Equity Value | -1,246.67 |
| Shares Outstanding | 73.63 |
| Equity Value Per Share | -16.93 |