Discounted Cash Flow (DCF) Analysis Levered

Vishay Precision Group, Inc. (VPG)

$43.815

+0.13 (+0.29%)
All numbers are in Millions, Currency in USD
Stock DCF: 25.64 | 43.815 | 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 254.35299.79283.96269.81317.92338.13359.63382.50406.82432.68
Revenue (%)
Operating Cash Flow 22.7335.3830.9335.3133.5437.3839.7542.2844.9747.83
Operating Cash Flow (%)
Capital Expenditure -6.96-14.52-11.20-22.95-17.06-17.17-18.27-19.43-20.66-21.98
Capital Expenditure (%)
Free Cash Flow 15.7720.8619.7412.3616.4820.2021.4922.8524.3125.85

Weighted Average Cost Of Capital

Share price $ 43.815
Beta 1.284
Diluted Shares Outstanding 13.62
Cost of Debt
Tax Rate 21.96
After-tax Cost of Debt 1.06%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.713
Total Debt 90.46
Total Equity 596.89
Total Capital 687.36
Debt Weighting 13.16
Equity Weighting 86.84
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 254.35299.79283.96269.81317.92338.13359.63382.50406.82432.68
Operating Cash Flow 22.7335.3830.9335.3133.5437.3839.7542.2844.9747.83
Capital Expenditure -6.96-14.52-11.20-22.95-17.06-17.17-18.27-19.43-20.66-21.98
Free Cash Flow 15.7720.8619.7412.3616.4820.2021.4922.8524.3125.85
WACC
PV LFCF 18.6118.2317.8617.4917.14
SUM PV LFCF 89.32

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.57
Free cash flow (t + 1) 26.37
Terminal Value 401.33
Present Value of Terminal Value 266.05

Intrinsic Value

Enterprise Value 355.37
Net Debt 6.13
Equity Value 349.24
Shares Outstanding 13.62
Equity Value Per Share 25.64