Discounted Cash Flow (DCF) Analysis Levered

TrueBlue, Inc. (TBI)

$11.83

+0.08 (+0.68%)
All numbers are in Millions, Currency in USD
Stock DCF: 15.31 | 11.83 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 2,368.781,846.362,173.622,254.181,906.241,829.711,756.261,685.751,618.071,553.11
Revenue (%)
Operating Cash Flow 94.54152.5320.44120.5034.7574.5171.5268.6565.8963.25
Operating Cash Flow (%)
Capital Expenditure -28.12-27.07-35.01-30.63-31.28-26.58-25.51-24.49-23.50-22.56
Capital Expenditure (%)
Free Cash Flow 66.42125.46-14.5789.883.4847.9346.0144.1642.3940.69

Weighted Average Cost Of Capital

Share price $ 11.83
Beta 1.520
Diluted Shares Outstanding 31.32
Cost of Debt
Tax Rate 31.35
After-tax Cost of Debt 3.43%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.333
Total Debt 61.34
Total Equity 370.48
Total Capital 431.82
Debt Weighting 14.20
Equity Weighting 85.80
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 2,368.781,846.362,173.622,254.181,906.241,829.711,756.261,685.751,618.071,553.11
Operating Cash Flow 94.54152.5320.44120.5034.7574.5171.5268.6565.8963.25
Capital Expenditure -28.12-27.07-35.01-30.63-31.28-26.58-25.51-24.49-23.50-22.56
Free Cash Flow 66.42125.46-14.5789.883.4847.9346.0144.1642.3940.69
WACC
PV LFCF 39.4634.3729.9326.0722.71
SUM PV LFCF 168.12

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.21
Free cash flow (t + 1) 41.50
Terminal Value 505.50
Present Value of Terminal Value 310.90

Intrinsic Value

Enterprise Value 479.02
Net Debt -0.55
Equity Value 479.57
Shares Outstanding 31.32
Equity Value Per Share 15.31