Discounted Cash Flow (DCF) Analysis Levered
Wingstop Inc. (WING)
$339.55
-8.10 (-2.33%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 199.68 | 248.81 | 282.50 | 357.52 | 460.06 | 567.46 | 699.93 | 863.34 | 1,064.89 | 1,313.50 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 38.58 | 65.53 | 48.88 | 76.24 | 121.60 | 125.66 | 154.99 | 191.17 | 235.80 | 290.85 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -22.49 | -6.05 | -28.02 | -23.94 | -40.83 | -44.47 | -54.85 | -67.66 | -83.45 | -102.94 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 16.10 | 59.48 | 20.86 | 52.30 | 80.77 | 81.18 | 100.14 | 123.52 | 152.35 | 187.92 |
Weighted Average Cost Of Capital
Share price | $ 339.55 |
---|---|
Beta | 1.662 |
Diluted Shares Outstanding | 29.86 |
Cost of Debt | |
Tax Rate | 25.59 |
After-tax Cost of Debt | 3.24% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 12.201 |
Total Debt | 714.71 |
Total Equity | 10,137.60 |
Total Capital | 10,852.31 |
Debt Weighting | 6.59 |
Equity Weighting | 93.41 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 199.68 | 248.81 | 282.50 | 357.52 | 460.06 | 567.46 | 699.93 | 863.34 | 1,064.89 | 1,313.50 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 38.58 | 65.53 | 48.88 | 76.24 | 121.60 | 125.66 | 154.99 | 191.17 | 235.80 | 290.85 |
Capital Expenditure | -22.49 | -6.05 | -28.02 | -23.94 | -40.83 | -44.47 | -54.85 | -67.66 | -83.45 | -102.94 |
Free Cash Flow | 16.10 | 59.48 | 20.86 | 52.30 | 80.77 | 81.18 | 100.14 | 123.52 | 152.35 | 187.92 |
WACC | ||||||||||
PV LFCF | 72.74 | 80.39 | 88.84 | 98.18 | 108.51 | |||||
SUM PV LFCF | 448.66 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 11.61 |
Free cash flow (t + 1) | 195.43 |
Terminal Value | 2,568.13 |
Present Value of Terminal Value | 1,482.86 |
Intrinsic Value
Enterprise Value | 1,931.52 |
---|---|
Net Debt | 624.49 |
Equity Value | 1,307.03 |
Shares Outstanding | 29.86 |
Equity Value Per Share | 43.78 |