Discounted Cash Flow (DCF) Analysis Levered

StoneMor Inc. (STON)

$3.41

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -4.36 | 3.41 | overvalue

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 338.23316.13289.52279.54322.84320.50318.17315.85313.56311.28
Revenue (%)
Operating Cash Flow 14.9826.46-37.991.362.630.630.620.620.610.61
Operating Cash Flow (%)
Capital Expenditure -10.79-12.17-6.42-6.36-12-9.77-9.70-9.63-9.56-9.49
Capital Expenditure (%)
Free Cash Flow 4.1914.29-44.40-5-9.37-9.15-9.08-9.02-8.95-8.88

Weighted Average Cost Of Capital

Share price $ 3.41
Beta 0.881
Diluted Shares Outstanding 107
Cost of Debt
Tax Rate 26.61
After-tax Cost of Debt 7.33%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.048
Total Debt 390.16
Total Equity 364.87
Total Capital 755.04
Debt Weighting 51.67
Equity Weighting 48.33
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 338.23316.13289.52279.54322.84320.50318.17315.85313.56311.28
Operating Cash Flow 14.9826.46-37.991.362.630.630.620.620.610.61
Capital Expenditure -10.79-12.17-6.42-6.36-12-9.77-9.70-9.63-9.56-9.49
Free Cash Flow 4.1914.29-44.40-5-9.37-9.15-9.08-9.02-8.95-8.88
WACC
PV LFCF -8.53-7.90-7.32-6.78-6.28
SUM PV LFCF -36.82

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.19
Free cash flow (t + 1) -9.06
Terminal Value -174.61
Present Value of Terminal Value -123.39

Intrinsic Value

Enterprise Value -160.21
Net Debt 306.28
Equity Value -466.49
Shares Outstanding 107
Equity Value Per Share -4.36