Discounted Cash Flow (DCF) Analysis Levered

Tredegar Corporation (TG)

$9.6

-0.19 (-1.94%)
All numbers are in Millions, Currency in USD
Stock DCF: 22.00 | 9.6 | 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 961.331,065.47972.36755.29826.45804.12782.40761.26740.69720.68
Revenue (%)
Operating Cash Flow 88.2197.79115.8674.3770.5878.2576.1474.0872.0870.13
Operating Cash Flow (%)
Capital Expenditure -44.36-40.81-50.86-23.36-27.36-32.29-31.42-30.57-29.74-28.94
Capital Expenditure (%)
Free Cash Flow 43.8556.986551.0243.2245.9644.7243.5142.3441.19

Weighted Average Cost Of Capital

Share price $ 9.6
Beta 0.889
Diluted Shares Outstanding 33.40
Cost of Debt
Tax Rate 13.98
After-tax Cost of Debt 3.31%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.893
Total Debt 87.99
Total Equity 320.66
Total Capital 408.65
Debt Weighting 21.53
Equity Weighting 78.47
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 961.331,065.47972.36755.29826.45804.12782.40761.26740.69720.68
Operating Cash Flow 88.2197.79115.8674.3770.5878.2576.1474.0872.0870.13
Capital Expenditure -44.36-40.81-50.86-23.36-27.36-32.29-31.42-30.57-29.74-28.94
Free Cash Flow 43.8556.986551.0243.2245.9644.7243.5142.3441.19
WACC
PV LFCF 42.9939.1335.6132.4129.49
SUM PV LFCF 179.63

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.91
Free cash flow (t + 1) 42.02
Terminal Value 855.72
Present Value of Terminal Value 612.69

Intrinsic Value

Enterprise Value 792.32
Net Debt 57.47
Equity Value 734.85
Shares Outstanding 33.40
Equity Value Per Share 22.00