Discounted Cash Flow (DCF) Analysis Levered
Tapestry, Inc. (TPR)
$42.48
-0.52 (-1.21%)
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 | 5,880 | 6,027.10 | 4,961.40 | 5,746.30 | 6,684.50 | 6,968.04 | 7,263.61 | 7,571.71 | 7,892.89 | 8,227.69 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 996.70 | 791.70 | 407 | 1,323.70 | 853.20 | 1,032.51 | 1,076.31 | 1,121.96 | 1,169.56 | 1,219.17 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -267.40 | -274.20 | -205.40 | -116 | -93.90 | -232.18 | -242.03 | -252.30 | -263 | -274.15 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 729.30 | 517.50 | 201.60 | 1,207.70 | 759.30 | 800.33 | 834.28 | 869.67 | 906.56 | 945.01 |
Weighted Average Cost Of Capital
Share price | $ 42.48 |
---|---|
Beta | 1.468 |
Diluted Shares Outstanding | 270.10 |
Cost of Debt | |
Tax Rate | 18.21 |
After-tax Cost of Debt | 1.47% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.674 |
Total Debt | 3,261.40 |
Total Equity | 11,473.85 |
Total Capital | 14,735.25 |
Debt Weighting | 22.13 |
Equity Weighting | 77.87 |
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 | 5,880 | 6,027.10 | 4,961.40 | 5,746.30 | 6,684.50 | 6,968.04 | 7,263.61 | 7,571.71 | 7,892.89 | 8,227.69 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 996.70 | 791.70 | 407 | 1,323.70 | 853.20 | 1,032.51 | 1,076.31 | 1,121.96 | 1,169.56 | 1,219.17 |
Capital Expenditure | -267.40 | -274.20 | -205.40 | -116 | -93.90 | -232.18 | -242.03 | -252.30 | -263 | -274.15 |
Free Cash Flow | 729.30 | 517.50 | 201.60 | 1,207.70 | 759.30 | 800.33 | 834.28 | 869.67 | 906.56 | 945.01 |
WACC | ||||||||||
PV LFCF | 736.68 | 706.86 | 678.24 | 650.78 | 624.44 | |||||
SUM PV LFCF | 3,397 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.64 |
Free cash flow (t + 1) | 963.91 |
Terminal Value | 14,516.75 |
Present Value of Terminal Value | 9,592.25 |
Intrinsic Value
Enterprise Value | 12,989.25 |
---|---|
Net Debt | 2,471.60 |
Equity Value | 10,517.65 |
Shares Outstanding | 270.10 |
Equity Value Per Share | 38.94 |