Discounted Cash Flow (DCF) Analysis Levered

Tredegar Corporation (TG)

$4.36

-0.07 (-1.58%)
All numbers are in Millions, Currency in USD
Stock DCF: 11.71 | 4.36 | undervalue

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 1,065.47972.36755.29826.45938.56919.61901.05882.86865.03847.57
Revenue (%)
Operating Cash Flow 97.79115.8674.3770.58-20.8468.5367.1565.7964.4663.16
Operating Cash Flow (%)
Capital Expenditure -40.81-50.86-23.36-27.36-36.87-35.67-34.95-34.24-33.55-32.87
Capital Expenditure (%)
Free Cash Flow 56.986551.0243.22-57.7232.8632.2031.5530.9130.29

Weighted Average Cost Of Capital

Share price $ 4.36
Beta 0.923
Diluted Shares Outstanding 33.83
Cost of Debt
Tax Rate 13.17
After-tax Cost of Debt 3.76%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.684
Total Debt 151.77
Total Equity 147.48
Total Capital 299.25
Debt Weighting 50.72
Equity Weighting 49.28
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 1,065.47972.36755.29826.45938.56919.61901.05882.86865.03847.57
Operating Cash Flow 97.79115.8674.3770.58-20.8468.5367.1565.7964.4663.16
Capital Expenditure -40.81-50.86-23.36-27.36-36.87-35.67-34.95-34.24-33.55-32.87
Free Cash Flow 56.986551.0243.22-57.7232.8632.2031.5530.9130.29
WACC
PV LFCF 30.9528.5526.3524.3122.43
SUM PV LFCF 132.59

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.19
Free cash flow (t + 1) 30.44
Terminal Value 534.96
Present Value of Terminal Value 396.19

Intrinsic Value

Enterprise Value 528.78
Net Debt 132.54
Equity Value 396.24
Shares Outstanding 33.83
Equity Value Per Share 11.71