Discounted Cash Flow (DCF) Analysis Levered
Vishay Intertechnology, Inc. (VSH)
$21.39
-0.17 (-0.79%)
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 | 3,034.69 | 2,668.30 | 2,501.90 | 3,240.49 | 3,497.40 | 3,664.75 | 3,840.11 | 4,023.85 | 4,216.39 | 4,418.14 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 258.51 | 296.44 | 314.94 | 457.10 | 484.29 | 441.01 | 462.11 | 484.22 | 507.39 | 531.67 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -229.90 | -156.64 | -123.60 | -218.37 | -325.31 | -252.33 | -264.40 | -277.06 | -290.31 | -304.20 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 28.61 | 139.80 | 191.34 | 238.73 | 158.98 | 188.68 | 197.71 | 207.17 | 217.08 | 227.47 |
Weighted Average Cost Of Capital
Share price | $ 21.39 |
---|---|
Beta | 1.301 |
Diluted Shares Outstanding | 143.91 |
Cost of Debt | |
Tax Rate | 27.75 |
After-tax Cost of Debt | 1.95% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.642 |
Total Debt | 634.75 |
Total Equity | 3,078.34 |
Total Capital | 3,713.09 |
Debt Weighting | 17.09 |
Equity Weighting | 82.91 |
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 | 3,034.69 | 2,668.30 | 2,501.90 | 3,240.49 | 3,497.40 | 3,664.75 | 3,840.11 | 4,023.85 | 4,216.39 | 4,418.14 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 258.51 | 296.44 | 314.94 | 457.10 | 484.29 | 441.01 | 462.11 | 484.22 | 507.39 | 531.67 |
Capital Expenditure | -229.90 | -156.64 | -123.60 | -218.37 | -325.31 | -252.33 | -264.40 | -277.06 | -290.31 | -304.20 |
Free Cash Flow | 28.61 | 139.80 | 191.34 | 238.73 | 158.98 | 188.68 | 197.71 | 207.17 | 217.08 | 227.47 |
WACC | ||||||||||
PV LFCF | 174.17 | 168.47 | 162.96 | 157.63 | 152.47 | |||||
SUM PV LFCF | 815.70 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.33 |
Free cash flow (t + 1) | 232.02 |
Terminal Value | 3,665.38 |
Present Value of Terminal Value | 2,456.83 |
Intrinsic Value
Enterprise Value | 3,272.53 |
---|---|
Net Debt | 23.92 |
Equity Value | 3,248.61 |
Shares Outstanding | 143.91 |
Equity Value Per Share | 22.57 |