Discounted Cash Flow (DCF) Analysis Levered

Uni-Select Inc. (UNS.TO)

$38.46

+0.77 (+2.04%)
All numbers are in Millions, Currency in USD
Stock DCF: 18.37 | 38.46 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,448.271,751.961,739.571,471.821,612.801,671.061,731.421,793.961,858.761,925.91
Revenue (%)
Operating Cash Flow 124.0194.5833.33132.61114.07106.81110.67114.67118.81123.10
Operating Cash Flow (%)
Capital Expenditure -18.27-22.66-25.12-8.22-15.55-18.46-19.12-19.81-20.53-21.27
Capital Expenditure (%)
Free Cash Flow 105.7371.928.21124.3998.5288.3691.5594.8698.28101.83

Weighted Average Cost Of Capital

Share price $ 38.46
Beta 1.847
Diluted Shares Outstanding 43.06
Cost of Debt
Tax Rate 50.36
After-tax Cost of Debt 3.24%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.566
Total Debt 415.71
Total Equity 1,656.25
Total Capital 2,071.97
Debt Weighting 20.06
Equity Weighting 79.94
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,448.271,751.961,739.571,471.821,612.801,671.061,731.421,793.961,858.761,925.91
Operating Cash Flow 124.0194.5833.33132.61114.07106.81110.67114.67118.81123.10
Capital Expenditure -18.27-22.66-25.12-8.22-15.55-18.46-19.12-19.81-20.53-21.27
Free Cash Flow 105.7371.928.21124.3998.5288.3691.5594.8698.28101.83
WACC
PV LFCF 80.4075.8071.4667.3763.52
SUM PV LFCF 358.55

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.90
Free cash flow (t + 1) 103.87
Terminal Value 1,314.81
Present Value of Terminal Value 820.11

Intrinsic Value

Enterprise Value 1,178.66
Net Debt 387.56
Equity Value 791.10
Shares Outstanding 43.06
Equity Value Per Share 18.37