Discounted Cash Flow (DCF) Analysis Levered

Vista Outdoor Inc. (VSTO)

$24.32

-0.15 (-0.61%)
All numbers are in Millions, Currency in USD
Stock DCF: 136.53 | 24.32 | undervalue

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 2,308.462,058.531,755.872,225.523,044.623,334.033,650.963,998.014,378.044,794.21
Revenue (%)
Operating Cash Flow 252.3597.4876.74345.37318.31306.81335.97367.91402.88441.18
Operating Cash Flow (%)
Capital Expenditure -66.63-42.24-23.77-30.17-42.78-60.36-66.10-72.38-79.26-86.80
Capital Expenditure (%)
Free Cash Flow 185.7355.2352.98315.21275.53246.44269.87295.52323.61354.38

Weighted Average Cost Of Capital

Share price $ 24.32
Beta 0.708
Diluted Shares Outstanding 59.91
Cost of Debt
Tax Rate 23.79
After-tax Cost of Debt 2.58%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.144
Total Debt 746.20
Total Equity 1,456.89
Total Capital 2,203.09
Debt Weighting 33.87
Equity Weighting 66.13
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 2,308.462,058.531,755.872,225.523,044.623,334.033,650.963,998.014,378.044,794.21
Operating Cash Flow 252.3597.4876.74345.37318.31306.81335.97367.91402.88441.18
Capital Expenditure -66.63-42.24-23.77-30.17-42.78-60.36-66.10-72.38-79.26-86.80
Free Cash Flow 185.7355.2352.98315.21275.53246.44269.87295.52323.61354.38
WACC
PV LFCF 233.37242.01250.96260.24269.86
SUM PV LFCF 1,256.44

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.60
Free cash flow (t + 1) 361.46
Terminal Value 10,040.67
Present Value of Terminal Value 7,646.15

Intrinsic Value

Enterprise Value 8,902.59
Net Debt 723.61
Equity Value 8,178.98
Shares Outstanding 59.91
Equity Value Per Share 136.53