Discounted Cash Flow (DCF) Analysis Levered
Swiss Water Decaffeinated Coffee In... (SWP.TO)
$2.95
+0.04 (+1.37%)
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 | 89.94 | 97.23 | 97.57 | 125.08 | 176.94 | 211.49 | 252.78 | 302.14 | 361.15 | 431.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 5.67 | 7.45 | 4.37 | -6.38 | -1.04 | 5.40 | 6.45 | 7.71 | 9.22 | 11.02 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -21.03 | -18.71 | -12.54 | -13.72 | -25.97 | -34.31 | -41.01 | -49.02 | -58.59 | -70.03 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -15.36 | -11.27 | -8.16 | -20.09 | -27.01 | -28.91 | -34.56 | -41.31 | -49.37 | -59.01 |
Weighted Average Cost Of Capital
| Share price | $ 2.95 |
|---|---|
| Beta | 1.697 |
| Diluted Shares Outstanding | 9.16 |
| Cost of Debt | |
| Tax Rate | 25.55 |
| After-tax Cost of Debt | 3.54% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.573 |
| Total Debt | 117.11 |
| Total Equity | 27.02 |
| Total Capital | 144.13 |
| Debt Weighting | 81.25 |
| Equity Weighting | 18.75 |
| 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 | 89.94 | 97.23 | 97.57 | 125.08 | 176.94 | 211.49 | 252.78 | 302.14 | 361.15 | 431.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 5.67 | 7.45 | 4.37 | -6.38 | -1.04 | 5.40 | 6.45 | 7.71 | 9.22 | 11.02 |
| Capital Expenditure | -21.03 | -18.71 | -12.54 | -13.72 | -25.97 | -34.31 | -41.01 | -49.02 | -58.59 | -70.03 |
| Free Cash Flow | -15.36 | -11.27 | -8.16 | -20.09 | -27.01 | -28.91 | -34.56 | -41.31 | -49.37 | -59.01 |
| WACC | ||||||||||
| PV LFCF | -27.52 | -31.32 | -35.64 | -40.56 | -46.15 | |||||
| SUM PV LFCF | -181.19 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.04 |
| Free cash flow (t + 1) | -60.19 |
| Terminal Value | -1,980.04 |
| Present Value of Terminal Value | -1,548.46 |
Intrinsic Value
| Enterprise Value | -1,729.66 |
|---|---|
| Net Debt | 113.35 |
| Equity Value | -1,843.01 |
| Shares Outstanding | 9.16 |
| Equity Value Per Share | -201.24 |