Discounted Cash Flow (DCF) Analysis Levered

U.S. Silica Holdings, Inc. (SLCA)

$11.38

-0.28 (-2.40%)
All numbers are in Millions, Currency in USD
Stock DCF: 9.71 | 11.38 | 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 1,474.48845.881,103.881,525.151,552.021,659.861,775.191,898.542,030.452,171.53
Revenue (%)
Operating Cash Flow 144.05-10.53169.35262.72263.87192.85206.25220.58235.91252.30
Operating Cash Flow (%)
Capital Expenditure -122.29-34.92-30.52-53.56-65.16-76.01-81.29-86.94-92.98-99.44
Capital Expenditure (%)
Free Cash Flow 21.76-45.45138.83209.15198.71116.84124.96133.64142.93152.86

Weighted Average Cost Of Capital

Share price $ 11.38
Beta 2.238
Diluted Shares Outstanding 78.52
Cost of Debt
Tax Rate 24.87
After-tax Cost of Debt 8.36%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.773
Total Debt 913.70
Total Equity 893.56
Total Capital 1,807.25
Debt Weighting 50.56
Equity Weighting 49.44
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 1,474.48845.881,103.881,525.151,552.021,659.861,775.191,898.542,030.452,171.53
Operating Cash Flow 144.05-10.53169.35262.72263.87192.85206.25220.58235.91252.30
Capital Expenditure -122.29-34.92-30.52-53.56-65.16-76.01-81.29-86.94-92.98-99.44
Free Cash Flow 21.76-45.45138.83209.15198.71116.84124.96133.64142.93152.86
WACC
PV LFCF 60.7158.2155.8253.5351.33
SUM PV LFCF 482.51

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 11.53
Free cash flow (t + 1) 155.92
Terminal Value 1,636.06
Present Value of Terminal Value 948.07

Intrinsic Value

Enterprise Value 1,430.58
Net Debt 667.98
Equity Value 762.60
Shares Outstanding 78.52
Equity Value Per Share 9.71