Discounted Cash Flow (DCF) Analysis Levered
Gentherm Incorporated (THRM)
$72
+1.00 (+1.41%)
All numbers are in Millions, Currency in USD
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 | 985.68 | 1,038.26 | 971.68 | 913.10 | 1,046.15 | 1,065.67 | 1,085.56 | 1,105.81 | 1,126.45 | 1,147.47 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 49.88 | 118.43 | 118.80 | 110.69 | 143.08 | 116.14 | 118.31 | 120.52 | 122.77 | 125.06 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -50.79 | -41.54 | -23.73 | -20.36 | -46.03 | -38.84 | -39.57 | -40.31 | -41.06 | -41.82 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -0.91 | 76.89 | 95.07 | 90.33 | 97.05 | 77.30 | 78.74 | 80.21 | 81.71 | 83.23 |
Weighted Average Cost Of Capital
Share price | $ 72 |
---|---|
Beta | 1.326 |
Diluted Shares Outstanding | 33.03 |
Cost of Debt | |
Tax Rate | 17.93 |
After-tax Cost of Debt | 3.53% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.779 |
Total Debt | 64.21 |
Total Equity | 2,378.02 |
Total Capital | 2,442.22 |
Debt Weighting | 2.63 |
Equity Weighting | 97.37 |
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 | 985.68 | 1,038.26 | 971.68 | 913.10 | 1,046.15 | 1,065.67 | 1,085.56 | 1,105.81 | 1,126.45 | 1,147.47 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 49.88 | 118.43 | 118.80 | 110.69 | 143.08 | 116.14 | 118.31 | 120.52 | 122.77 | 125.06 |
Capital Expenditure | -50.79 | -41.54 | -23.73 | -20.36 | -46.03 | -38.84 | -39.57 | -40.31 | -41.06 | -41.82 |
Free Cash Flow | -0.91 | 76.89 | 95.07 | 90.33 | 97.05 | 77.30 | 78.74 | 80.21 | 81.71 | 83.23 |
WACC | ||||||||||
PV LFCF | 70.52 | 65.54 | 60.91 | 56.61 | 52.61 | |||||
SUM PV LFCF | 306.19 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.61 |
Free cash flow (t + 1) | 84.90 |
Terminal Value | 1,115.63 |
Present Value of Terminal Value | 705.13 |
Intrinsic Value
Enterprise Value | 1,011.32 |
---|---|
Net Debt | -126.40 |
Equity Value | 1,137.72 |
Shares Outstanding | 33.03 |
Equity Value Per Share | 34.45 |