Discounted Cash Flow (DCF) Analysis Levered
Stratasys Ltd. (SSYS)
$13.21
+0.96 (+7.84%)
All numbers are in Millions, Currency in USD
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 | 663.24 | 636.08 | 520.82 | 607.22 | 651.48 | 654.19 | 656.91 | 659.65 | 662.39 | 665.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 63.71 | -11.19 | 27.80 | 35.82 | -75.41 | 9.83 | 9.87 | 9.91 | 9.95 | 9.99 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -24.81 | -25.30 | -29.01 | -26.75 | -19.75 | -27.12 | -27.23 | -27.34 | -27.46 | -27.57 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 38.90 | -36.49 | -1.21 | 9.07 | -95.16 | -17.29 | -17.36 | -17.44 | -17.51 | -17.58 |
Weighted Average Cost Of Capital
| Share price | $ 13.21 |
|---|---|
| Beta | 1.451 |
| Diluted Shares Outstanding | 66.49 |
| Cost of Debt | |
| Tax Rate | -30.65 |
| After-tax Cost of Debt | 1.28% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.447 |
| Total Debt | 17.84 |
| Total Equity | 878.35 |
| Total Capital | 896.19 |
| Debt Weighting | 1.99 |
| Equity Weighting | 98.01 |
| 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 | 663.24 | 636.08 | 520.82 | 607.22 | 651.48 | 654.19 | 656.91 | 659.65 | 662.39 | 665.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 63.71 | -11.19 | 27.80 | 35.82 | -75.41 | 9.83 | 9.87 | 9.91 | 9.95 | 9.99 |
| Capital Expenditure | -24.81 | -25.30 | -29.01 | -26.75 | -19.75 | -27.12 | -27.23 | -27.34 | -27.46 | -27.57 |
| Free Cash Flow | 38.90 | -36.49 | -1.21 | 9.07 | -95.16 | -17.29 | -17.36 | -17.44 | -17.51 | -17.58 |
| WACC | ||||||||||
| PV LFCF | -15.54 | -14.03 | -12.67 | -11.43 | -10.32 | |||||
| SUM PV LFCF | -64 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.24 |
| Free cash flow (t + 1) | -17.93 |
| Terminal Value | -194.08 |
| Present Value of Terminal Value | -113.94 |
Intrinsic Value
| Enterprise Value | -177.94 |
|---|---|
| Net Debt | -132.63 |
| Equity Value | -45.31 |
| Shares Outstanding | 66.49 |
| Equity Value Per Share | -0.68 |