Discounted Cash Flow (DCF) Analysis Levered
Similarweb Ltd. (SMWB)
$7.035
+0.14 (+2.10%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 70.59 | 93.49 | 137.67 | 192.53 | 269.24 | 376.53 | 526.57 | 736.40 |
|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||
| Operating Cash Flow | -9.69 | -3.76 | -27.63 | -24.27 | -33.94 | -47.47 | -66.38 | -92.83 |
| Operating Cash Flow (%) | ||||||||
| Capital Expenditure | -1.81 | -1.14 | -3.11 | -3.87 | -5.42 | -7.57 | -10.59 | -14.81 |
| Capital Expenditure (%) | ||||||||
| Free Cash Flow | -11.50 | -4.90 | -30.74 | -28.14 | -39.36 | -55.04 | -76.97 | -107.64 |
Weighted Average Cost Of Capital
| Share price | $ 7.035 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 53.20 |
| Cost of Debt | |
| Tax Rate | -1.44 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.640 |
| Total Debt | - |
| Total Equity | 374.27 |
| Total Capital | 374.27 |
| Debt Weighting | 0.00 |
| Equity Weighting | 100.00 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 70.59 | 93.49 | 137.67 | 192.53 | 269.24 | 376.53 | 526.57 | 736.40 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -9.69 | -3.76 | -27.63 | -24.27 | -33.94 | -47.47 | -66.38 | -92.83 |
| Capital Expenditure | -1.81 | -1.14 | -3.11 | -3.87 | -5.42 | -7.57 | -10.59 | -14.81 |
| Free Cash Flow | -11.50 | -4.90 | -30.74 | -28.14 | -39.36 | -55.04 | -76.97 | -107.64 |
| WACC | ||||||||
| PV LFCF | -29.17 | -39.36 | -53.11 | -71.66 | -96.69 | |||
| SUM PV LFCF | -269.97 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.64 |
| Free cash flow (t + 1) | -109.79 |
| Terminal Value | -6,694.81 |
| Present Value of Terminal Value | -5,598.88 |
Intrinsic Value
| Enterprise Value | -5,868.85 |
|---|---|
| Net Debt | -128.88 |
| Equity Value | -5,739.97 |
| Shares Outstanding | 53.20 |
| Equity Value Per Share | -107.89 |