Discounted Cash Flow (DCF) Analysis Levered

Simpson Manufacturing Co., Inc. (SSD)

$105.01

-0.31 (-0.29%)

All numbers are in Millions, Currency in USD

Stock DCF: 258.75 | 105.01 | undervalue

Free Cash Flow

Year A/P	2018 Actual	2019 Actual	2020 Actual	2021 Actual	2022 Actual	2023 Projected	2024 Projected	2025 Projected	2026 Projected	2027 Projected
Revenue	1,078.81	1,136.54	1,267.95	1,573.22	2,116.09	2,515.48	2,990.25	3,554.64	4,225.54	5,023.07
Revenue (%)
Operating Cash Flow	160.08	205.66	207.57	151.30	399.82	391.49	465.38	553.22	657.63	781.75
Operating Cash Flow (%)
Capital Expenditure	-29.31	-37.53	-37.91	-43.74	361.56	26.65	31.68	37.66	44.77	53.22
Capital Expenditure (%)
Free Cash Flow	130.77	168.14	169.66	107.56	761.38	418.14	497.06	590.88	702.40	834.97

Weighted Average Cost Of Capital

Share price	$ 105.01
Beta	1.209
Diluted Shares Outstanding	43.05
Cost of Debt
Tax Rate	25.46
After-tax Cost of Debt	0.94%
Risk-Free Rate
Market Risk Premium
Cost of Equity	9.271
Total Debt	601.42
Total Equity	4,520.37
Total Capital	5,121.79
Debt Weighting	11.74
Equity Weighting	88.26
Wacc

Build Up Free Cash Flow

Year A/P	2018 Actual	2019 Actual	2020 Actual	2021 Actual	2022 Actual	2023 Projected	2024 Projected	2025 Projected	2026 Projected	2027 Projected
Revenue	1,078.81	1,136.54	1,267.95	1,573.22	2,116.09	2,515.48	2,990.25	3,554.64	4,225.54	5,023.07
Operating Cash Flow	160.08	205.66	207.57	151.30	399.82	391.49	465.38	553.22	657.63	781.75
Capital Expenditure	-29.31	-37.53	-37.91	-43.74	361.56	26.65	31.68	37.66	44.77	53.22
Free Cash Flow	130.77	168.14	169.66	107.56	761.38	418.14	497.06	590.88	702.40	834.97
WACC
PV LFCF						386.13	423.87	465.30	510.78	560.70
SUM PV LFCF										2,346.77

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	8.29
Free cash flow (t + 1)	851.67
Terminal Value	13,540.05
Present Value of Terminal Value	9,092.40

Intrinsic Value

Enterprise Value	11,439.17
Net Debt	300.68
Equity Value	11,138.49
Shares Outstanding	43.05
Equity Value Per Share	258.75