Discounted Cash Flow (DCF) Analysis Levered
U.S. Concrete, Inc. (USCR)
$73.99
0.00 (0.00%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2015 Actual | 2016 Actual | 2017 Projected | 2018 Projected | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 974.72 | 1,168.16 | 1,399.99 | 1,677.84 | 2,010.82 | 2,409.89 | 2,888.16 | 3,461.35 | 4,148.29 | 4,971.56 | 5,958.22 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | 104.26 | 112.12 | 142.06 | 170.26 | 204.05 | 244.54 | 293.07 | 351.24 | 420.95 | 504.49 | 604.61 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -24.98 | -40.42 | -42.16 | -50.53 | -60.56 | -72.57 | -86.98 | -104.24 | -124.93 | -149.72 | -179.43 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | 79.28 | 71.70 | 99.90 | 119.73 | 143.49 | 171.97 | 206.10 | 247 | 296.02 | 354.77 | 425.17 |
Weighted Average Cost Of Capital
| Share price | $ 73.99 |
|---|---|
| Beta | 1.342 |
| Diluted Shares Outstanding | 16 |
| Cost of Debt | |
| Tax Rate | -26.32 |
| After-tax Cost of Debt | 56.67% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.773 |
| Total Debt | 81 |
| Total Equity | 1,183.84 |
| Total Capital | 1,264.84 |
| Debt Weighting | 6.40 |
| Equity Weighting | 93.60 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2015 Actual | 2016 Actual | 2017 Projected | 2018 Projected | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 974.72 | 1,168.16 | 1,399.99 | 1,677.84 | 2,010.82 | 2,409.89 | 2,888.16 | 3,461.35 | 4,148.29 | 4,971.56 | 5,958.22 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 104.26 | 112.12 | 142.06 | 170.26 | 204.05 | 244.54 | 293.07 | 351.24 | 420.95 | 504.49 | 604.61 |
| Capital Expenditure | -24.98 | -40.42 | -42.16 | -50.53 | -60.56 | -72.57 | -86.98 | -104.24 | -124.93 | -149.72 | -179.43 |
| Free Cash Flow | 79.28 | 71.70 | 99.90 | 119.73 | 143.49 | 171.97 | 206.10 | 247 | 296.02 | 354.77 | 425.17 |
| WACC | |||||||||||
| PV LFCF | 129.17 | 136.14 | 143.49 | 151.23 | 159.39 | 168 | 177.06 | 186.62 | 196.69 | ||
| SUM PV LFCF | 1,009.47 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 13.71 |
| Free cash flow (t + 1) | 433.68 |
| Terminal Value | 3,703.47 |
| Present Value of Terminal Value | 1,948.12 |
Intrinsic Value
| Enterprise Value | 2,957.59 |
|---|---|
| Net Debt | 70 |
| Equity Value | 2,887.59 |
| Shares Outstanding | 16 |
| Equity Value Per Share | 180.47 |