Discounted Cash Flow (DCF) Analysis Levered
Gentherm Incorporated (THRM)
$57.75
+0.36 (+0.63%)
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 | 1,038.26 | 971.68 | 913.10 | 1,046.15 | 1,204.66 | 1,256.70 | 1,310.99 | 1,367.63 | 1,426.72 | 1,488.36 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 118.43 | 118.80 | 110.69 | 143.08 | 14.95 | 127.36 | 132.87 | 138.61 | 144.59 | 150.84 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -41.54 | -23.73 | -20.36 | -46.03 | -39.70 | -41.14 | -42.92 | -44.77 | -46.71 | -48.72 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 76.89 | 95.07 | 90.33 | 97.05 | -24.76 | 86.22 | 89.95 | 93.84 | 97.89 | 102.12 |
Weighted Average Cost Of Capital
Share price | $ 57.75 |
---|---|
Beta | 1.368 |
Diluted Shares Outstanding | 33.50 |
Cost of Debt | |
Tax Rate | 36.32 |
After-tax Cost of Debt | 1.04% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.835 |
Total Debt | 262.78 |
Total Equity | 1,934.80 |
Total Capital | 2,197.58 |
Debt Weighting | 11.96 |
Equity Weighting | 88.04 |
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 | 1,038.26 | 971.68 | 913.10 | 1,046.15 | 1,204.66 | 1,256.70 | 1,310.99 | 1,367.63 | 1,426.72 | 1,488.36 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 118.43 | 118.80 | 110.69 | 143.08 | 14.95 | 127.36 | 132.87 | 138.61 | 144.59 | 150.84 |
Capital Expenditure | -41.54 | -23.73 | -20.36 | -46.03 | -39.70 | -41.14 | -42.92 | -44.77 | -46.71 | -48.72 |
Free Cash Flow | 76.89 | 95.07 | 90.33 | 97.05 | -24.76 | 86.22 | 89.95 | 93.84 | 97.89 | 102.12 |
WACC | ||||||||||
PV LFCF | 72.87 | 69.88 | 67.01 | 64.27 | 61.63 | |||||
SUM PV LFCF | 365.13 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.78 |
Free cash flow (t + 1) | 104.16 |
Terminal Value | 1,536.29 |
Present Value of Terminal Value | 1,008.62 |
Intrinsic Value
Enterprise Value | 1,373.75 |
---|---|
Net Debt | 108.89 |
Equity Value | 1,264.87 |
Shares Outstanding | 33.50 |
Equity Value Per Share | 37.75 |