Discounted Cash Flow (DCF) Analysis Levered

Sportsman's Warehouse Holdings, Inc... (SPWH)

$4.79

+0.08 (+1.70%)
All numbers are in Millions, Currency in USD
Stock DCF: 187.06 | 4.79 | undervalue

Free Cash Flow

Year
A/P
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 886.401,451.771,506.072,014.542,694.683,604.444,821.356,449.118,626.42
Revenue (%)
Operating Cash Flow 77.87238.82-21.6346.79175.97235.38314.85421.15563.34
Operating Cash Flow (%)
Capital Expenditure -30.37-19.75-53.45-63.51-77.40-103.53-138.48-185.23-247.77
Capital Expenditure (%)
Free Cash Flow 47.49219.06-75.08-16.7298.58131.86176.37235.92315.57

Weighted Average Cost Of Capital

Share price $ 4.79
Beta 0.861
Diluted Shares Outstanding 44.54
Cost of Debt
Tax Rate 24.80
After-tax Cost of Debt 3.76%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.753
Total Debt 393.45
Total Equity 213.36
Total Capital 606.81
Debt Weighting 64.84
Equity Weighting 35.16
Wacc

Build Up Free Cash Flow

Year
A/P
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 886.401,451.771,506.072,014.542,694.683,604.444,821.356,449.118,626.42
Operating Cash Flow 77.87238.82-21.6346.79175.97235.38314.85421.15563.34
Capital Expenditure -30.37-19.75-53.45-63.51-77.40-103.53-138.48-185.23-247.77
Free Cash Flow 47.49219.06-75.08-16.7298.58131.86176.37235.92315.57
WACC
PV LFCF -17.5898.58125.39159.49202.87258.04
SUM PV LFCF 802.93

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.16
Free cash flow (t + 1) 321.88
Terminal Value 10,186.02
Present Value of Terminal Value 7,920.48

Intrinsic Value

Enterprise Value 8,723.41
Net Debt 391.06
Equity Value 8,332.35
Shares Outstanding 44.54
Equity Value Per Share 187.06