Discounted Cash Flow (DCF) Analysis Levered
Stewart Information Services Corpor... (STC)
$47.76
-0.03 (-0.06%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 1,955.72 | 1,907.67 | 1,940.01 | 2,288.43 | 3,305.79 | 3,815.34 | 4,403.42 | 5,082.15 | 5,865.49 | 6,769.58 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 108.07 | 84.18 | 166.36 | 275.81 | 390.29 | 323.33 | 373.16 | 430.68 | 497.06 | 573.68 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -16.40 | -10.68 | -17.07 | -14.99 | -39.80 | -31.57 | -36.44 | -42.05 | -48.53 | -56.01 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 91.67 | 73.50 | 149.28 | 260.81 | 350.49 | 291.76 | 336.73 | 388.63 | 448.53 | 517.67 |
Weighted Average Cost Of Capital
| Share price | $ 47.76 |
|---|---|
| Beta | 1.096 |
| Diluted Shares Outstanding | 27.24 |
| Cost of Debt | |
| Tax Rate | 25.52 |
| After-tax Cost of Debt | 0.59% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.689 |
| Total Debt | 632.91 |
| Total Equity | 1,300.89 |
| Total Capital | 1,933.79 |
| Debt Weighting | 32.73 |
| Equity Weighting | 67.27 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 1,955.72 | 1,907.67 | 1,940.01 | 2,288.43 | 3,305.79 | 3,815.34 | 4,403.42 | 5,082.15 | 5,865.49 | 6,769.58 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 108.07 | 84.18 | 166.36 | 275.81 | 390.29 | 323.33 | 373.16 | 430.68 | 497.06 | 573.68 |
| Capital Expenditure | -16.40 | -10.68 | -17.07 | -14.99 | -39.80 | -31.57 | -36.44 | -42.05 | -48.53 | -56.01 |
| Free Cash Flow | 91.67 | 73.50 | 149.28 | 260.81 | 350.49 | 291.76 | 336.73 | 388.63 | 448.53 | 517.67 |
| WACC | ||||||||||
| PV LFCF | 275.14 | 299.46 | 325.93 | 354.74 | 386.10 | |||||
| SUM PV LFCF | 1,641.38 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.04 |
| Free cash flow (t + 1) | 528.02 |
| Terminal Value | 13,069.80 |
| Present Value of Terminal Value | 9,748.11 |
Intrinsic Value
| Enterprise Value | 11,389.48 |
|---|---|
| Net Debt | 146.99 |
| Equity Value | 11,242.49 |
| Shares Outstanding | 27.24 |
| Equity Value Per Share | 412.75 |