Discounted Cash Flow (DCF) Analysis Levered

Unifi, Inc. (UFI)

$9.77

+0.18 (+1.88%)
All numbers are in Millions, Currency in USD
Stock DCF: 2.26 | 9.77 | overvalue

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 678.91708.80606.51667.59815.76861.11908.98959.511,012.851,069.15
Revenue (%)
Operating Cash Flow 37.347.2852.7236.680.3835.7537.7439.8442.0644.39
Operating Cash Flow (%)
Capital Expenditure -25.03-24.87-18.51-24.78-39.63-32.41-34.21-36.11-38.12-40.24
Capital Expenditure (%)
Free Cash Flow 12.31-17.5934.2111.90-39.253.353.533.733.944.16

Weighted Average Cost Of Capital

Share price $ 9.77
Beta 1.011
Diluted Shares Outstanding 18.86
Cost of Debt
Tax Rate 43.45
After-tax Cost of Debt 1.60%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.388
Total Debt 109.05
Total Equity 184.22
Total Capital 293.27
Debt Weighting 37.18
Equity Weighting 62.82
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 678.91708.80606.51667.59815.76861.11908.98959.511,012.851,069.15
Operating Cash Flow 37.347.2852.7236.680.3835.7537.7439.8442.0644.39
Capital Expenditure -25.03-24.87-18.51-24.78-39.63-32.41-34.21-36.11-38.12-40.24
Free Cash Flow 12.31-17.5934.2111.90-39.253.353.533.733.944.16
WACC
PV LFCF 3.163.153.143.133.13
SUM PV LFCF 15.72

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.86
Free cash flow (t + 1) 4.24
Terminal Value 109.81
Present Value of Terminal Value 82.60

Intrinsic Value

Enterprise Value 98.32
Net Debt 55.76
Equity Value 42.56
Shares Outstanding 18.86
Equity Value Per Share 2.26