Discounted Cash Flow (DCF) Analysis Levered

STAAR Surgical Company (STAA)

$72.1

-0.28 (-0.39%)
All numbers are in Millions, Currency in USD
Stock DCF: 23.67 | 72.1 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 90.61123.95169.57231.96317.32434.09593.83812.341,111.271,520.19
Revenue (%)
Operating Cash Flow 2.8512.7711.4015.6021.3429.1939.9354.6274.72102.22
Operating Cash Flow (%)
Capital Expenditure -1.05-2.25-2.51-3.44-4.71-6.44-8.81-12.05-16.48-22.54
Capital Expenditure (%)
Free Cash Flow 1.8110.528.8912.1616.6322.7531.1242.5858.2579.68

Weighted Average Cost Of Capital

Share price $ 72.1
Beta 1.030
Diluted Shares Outstanding 47.95
Cost of Debt
Tax Rate 21.73
After-tax Cost of Debt 0.09%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.822
Total Debt 32.06
Total Equity 3,457.41
Total Capital 3,489.47
Debt Weighting 0.92
Equity Weighting 99.08
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 90.61123.95169.57231.96317.32434.09593.83812.341,111.271,520.19
Operating Cash Flow 2.8512.7711.4015.6021.3429.1939.9354.6274.72102.22
Capital Expenditure -1.05-2.25-2.51-3.44-4.71-6.44-8.81-12.05-16.48-22.54
Free Cash Flow 1.8110.528.8912.1616.6322.7531.1242.5858.2579.68
WACC
PV LFCF 8.8911.1814.0717.7022.2628.0135.2344.32
SUM PV LFCF 174.43

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.74
Free cash flow (t + 1) 81.27
Terminal Value 1,205.84
Present Value of Terminal Value 793.12

Intrinsic Value

Enterprise Value 967.55
Net Debt -167.65
Equity Value 1,135.20
Shares Outstanding 47.95
Equity Value Per Share 23.67