Discounted Cash Flow (DCF) Analysis Levered
Tapestry, Inc. (TPR)
$28.035
-0.10 (-0.37%)
All numbers are in Millions, Currency in USD
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 | 6,027.10 | 4,961.40 | 5,746.30 | 6,684.50 | 6,660.90 | 6,895.90 | 7,139.19 | 7,391.07 | 7,651.83 | 7,921.80 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 791.70 | 407 | 1,323.70 | 853.20 | 975.20 | 989.96 | 1,024.89 | 1,061.05 | 1,098.49 | 1,137.24 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -274.20 | -205.40 | -116 | -93.90 | -184.20 | -205.20 | -212.44 | -219.93 | -227.69 | -235.72 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 517.50 | 201.60 | 1,207.70 | 759.30 | 791 | 784.77 | 812.45 | 841.12 | 870.79 | 901.52 |
Weighted Average Cost Of Capital
| Share price | $ 28.035 |
|---|---|
| Beta | 1.507 |
| Diluted Shares Outstanding | 241.30 |
| Cost of Debt | |
| Tax Rate | 18.12 |
| After-tax Cost of Debt | 0.69% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.735 |
| Total Debt | 3,292 |
| Total Equity | 6,764.85 |
| Total Capital | 10,056.85 |
| Debt Weighting | 32.73 |
| Equity Weighting | 67.27 |
| 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 | 6,027.10 | 4,961.40 | 5,746.30 | 6,684.50 | 6,660.90 | 6,895.90 | 7,139.19 | 7,391.07 | 7,651.83 | 7,921.80 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 791.70 | 407 | 1,323.70 | 853.20 | 975.20 | 989.96 | 1,024.89 | 1,061.05 | 1,098.49 | 1,137.24 |
| Capital Expenditure | -274.20 | -205.40 | -116 | -93.90 | -184.20 | -205.20 | -212.44 | -219.93 | -227.69 | -235.72 |
| Free Cash Flow | 517.50 | 201.60 | 1,207.70 | 759.30 | 791 | 784.77 | 812.45 | 841.12 | 870.79 | 901.52 |
| WACC | ||||||||||
| PV LFCF | 725.83 | 695 | 665.49 | 637.22 | 610.16 | |||||
| SUM PV LFCF | 3,333.70 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.12 |
| Free cash flow (t + 1) | 919.55 |
| Terminal Value | 15,025.26 |
| Present Value of Terminal Value | 10,169.32 |
Intrinsic Value
| Enterprise Value | 13,503.02 |
|---|---|
| Net Debt | 2,565.90 |
| Equity Value | 10,937.12 |
| Shares Outstanding | 241.30 |
| Equity Value Per Share | 45.33 |