Discounted Cash Flow (DCF) Analysis Levered
Twin Disc, Incorporated (TWIN)
$13.72
-0.21 (-1.51%)
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 | 302.66 | 246.84 | 218.58 | 242.91 | 276.96 | 273.68 | 270.43 | 267.22 | 264.05 | 260.92 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -5.46 | 9.62 | 6.53 | -8.31 | 22.90 | 5.43 | 5.37 | 5.30 | 5.24 | 5.18 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -11.98 | -10.70 | -4.46 | -4.73 | -7.92 | -8.29 | -8.19 | -8.09 | -8 | -7.90 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -17.44 | -1.08 | 2.06 | -13.04 | 14.98 | -2.85 | -2.82 | -2.79 | -2.75 | -2.72 |
Weighted Average Cost Of Capital
| Share price | $ 13.72 |
|---|---|
| Beta | 0.970 |
| Diluted Shares Outstanding | 13.81 |
| Cost of Debt | |
| Tax Rate | 28.24 |
| After-tax Cost of Debt | 5.49% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.153 |
| Total Debt | 29.44 |
| Total Equity | 189.49 |
| Total Capital | 218.92 |
| Debt Weighting | 13.45 |
| Equity Weighting | 86.55 |
| 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 | 302.66 | 246.84 | 218.58 | 242.91 | 276.96 | 273.68 | 270.43 | 267.22 | 264.05 | 260.92 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -5.46 | 9.62 | 6.53 | -8.31 | 22.90 | 5.43 | 5.37 | 5.30 | 5.24 | 5.18 |
| Capital Expenditure | -11.98 | -10.70 | -4.46 | -4.73 | -7.92 | -8.29 | -8.19 | -8.09 | -8 | -7.90 |
| Free Cash Flow | -17.44 | -1.08 | 2.06 | -13.04 | 14.98 | -2.85 | -2.82 | -2.79 | -2.75 | -2.72 |
| WACC | ||||||||||
| PV LFCF | -2.63 | -2.39 | -2.17 | -1.98 | -1.80 | |||||
| SUM PV LFCF | -10.96 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.66 |
| Free cash flow (t + 1) | -2.78 |
| Terminal Value | -41.68 |
| Present Value of Terminal Value | -27.52 |
Intrinsic Value
| Enterprise Value | -38.48 |
|---|---|
| Net Debt | 16.18 |
| Equity Value | -54.66 |
| Shares Outstanding | 13.81 |
| Equity Value Per Share | -3.96 |