Discounted Cash Flow (DCF) Analysis Levered
Unisys Corporation (UIS)
$5.62
+0.27 (+5.05%)
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 | 2,825 | 2,948.70 | 2,026.30 | 2,054.40 | 1,979.90 | 1,835.65 | 1,701.91 | 1,577.92 | 1,462.96 | 1,356.37 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 73.90 | 123.90 | -681.20 | 132.50 | 12.70 | -72.36 | -67.09 | -62.20 | -57.67 | -53.47 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -116.30 | -111.30 | -100 | -81.70 | -77.30 | -76.02 | -70.48 | -65.35 | -60.59 | -56.17 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -42.40 | 12.60 | -781.20 | 50.80 | -64.60 | -148.38 | -137.57 | -127.55 | -118.26 | -109.64 |
Weighted Average Cost Of Capital
| Share price | $ 5.62 |
|---|---|
| Beta | 1.064 |
| Diluted Shares Outstanding | 67.67 |
| Cost of Debt | |
| Tax Rate | -67.57 |
| After-tax Cost of Debt | 5.97% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.277 |
| Total Debt | 542.80 |
| Total Equity | 380.28 |
| Total Capital | 923.08 |
| Debt Weighting | 58.80 |
| Equity Weighting | 41.20 |
| 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 | 2,825 | 2,948.70 | 2,026.30 | 2,054.40 | 1,979.90 | 1,835.65 | 1,701.91 | 1,577.92 | 1,462.96 | 1,356.37 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 73.90 | 123.90 | -681.20 | 132.50 | 12.70 | -72.36 | -67.09 | -62.20 | -57.67 | -53.47 |
| Capital Expenditure | -116.30 | -111.30 | -100 | -81.70 | -77.30 | -76.02 | -70.48 | -65.35 | -60.59 | -56.17 |
| Free Cash Flow | -42.40 | 12.60 | -781.20 | 50.80 | -64.60 | -148.38 | -137.57 | -127.55 | -118.26 | -109.64 |
| WACC | ||||||||||
| PV LFCF | -138.25 | -119.42 | -103.16 | -89.11 | -76.98 | |||||
| SUM PV LFCF | -526.92 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.33 |
| Free cash flow (t + 1) | -111.83 |
| Terminal Value | -2,098.18 |
| Present Value of Terminal Value | -1,473.12 |
Intrinsic Value
| Enterprise Value | -2,000.04 |
|---|---|
| Net Debt | 151 |
| Equity Value | -2,151.04 |
| Shares Outstanding | 67.67 |
| Equity Value Per Share | -31.79 |