Discounted Cash Flow (DCF) Analysis Levered
Tapestry, Inc. (TPR)
$28.5
-0.33 (-1.14%)
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 | $ 28.5 |
---|---|
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 | 11.653 |
Total Debt | 3,292 |
Total Equity | 6,877.05 |
Total Capital | 10,169.05 |
Debt Weighting | 32.37 |
Equity Weighting | 67.63 |
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 | 725.96 | 695.26 | 665.86 | 637.69 | 610.72 | |||||
SUM PV LFCF | 3,335.50 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.10 |
Free cash flow (t + 1) | 919.55 |
Terminal Value | 15,074.53 |
Present Value of Terminal Value | 10,212.10 |
Intrinsic Value
Enterprise Value | 13,547.60 |
---|---|
Net Debt | 2,565.90 |
Equity Value | 10,981.70 |
Shares Outstanding | 241.30 |
Equity Value Per Share | 45.51 |