Discounted Cash Flow (DCF) Analysis Levered
SpartanNash Company (SPTN)
$31.98
-0.10 (-0.31%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 8,128.08 | 8,064.55 | 8,536.07 | 8,752.25 | 8,973.90 | 9,201.17 | 9,434.20 | 9,673.12 | 9,918.10 | 10,169.28 | 10,426.83 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | 52.71 | 171.37 | 179.98 | 142.43 | 146.03 | 149.73 | 153.52 | 157.41 | 161.40 | 165.49 | 169.68 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -70.91 | -71.49 | -74.82 | -76.88 | -78.83 | -80.83 | -82.87 | -84.97 | -87.13 | -89.33 | -91.59 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | -18.20 | 99.88 | 105.16 | 65.54 | 67.20 | 68.90 | 70.65 | 72.44 | 74.27 | 76.15 | 78.08 |
Weighted Average Cost Of Capital
| Share price | $ 31.98 |
|---|---|
| Beta | 0.786 |
| Diluted Shares Outstanding | 35.94 |
| Cost of Debt | |
| Tax Rate | 25.25 |
| After-tax Cost of Debt | 1.44% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.243 |
| Total Debt | 720.27 |
| Total Equity | 1,149.46 |
| Total Capital | 1,869.73 |
| Debt Weighting | 38.52 |
| Equity Weighting | 61.48 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 8,128.08 | 8,064.55 | 8,536.07 | 8,752.25 | 8,973.90 | 9,201.17 | 9,434.20 | 9,673.12 | 9,918.10 | 10,169.28 | 10,426.83 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 52.71 | 171.37 | 179.98 | 142.43 | 146.03 | 149.73 | 153.52 | 157.41 | 161.40 | 165.49 | 169.68 |
| Capital Expenditure | -70.91 | -71.49 | -74.82 | -76.88 | -78.83 | -80.83 | -82.87 | -84.97 | -87.13 | -89.33 | -91.59 |
| Free Cash Flow | -18.20 | 99.88 | 105.16 | 65.54 | 67.20 | 68.90 | 70.65 | 72.44 | 74.27 | 76.15 | 78.08 |
| WACC | |||||||||||
| PV LFCF | 65.54 | 64 | 62.49 | 61.01 | 59.57 | 58.17 | 56.79 | 55.45 | |||
| SUM PV LFCF | 320.89 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.01 |
| Free cash flow (t + 1) | 79.64 |
| Terminal Value | 2,645.96 |
| Present Value of Terminal Value | 2,072.19 |
Intrinsic Value
| Enterprise Value | 2,393.08 |
|---|---|
| Net Debt | 709.60 |
| Equity Value | 1,683.48 |
| Shares Outstanding | 35.94 |
| Equity Value Per Share | 46.84 |