Discounted Cash Flow (DCF) Analysis Levered
WideOpenWest, Inc. (WOW)
$11.36
-0.10 (-0.87%)
All numbers are in Millions, Currency in USD
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 | 1,188.10 | 1,153.80 | 1,145.80 | 1,148.40 | 725.70 | 652.84 | 587.29 | 528.33 | 475.28 | 427.56 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 195.50 | 269.30 | 266.30 | 277.40 | 174 | 145.15 | 130.58 | 117.47 | 105.67 | 95.06 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -301.30 | -314.10 | -247.50 | -234.10 | -207.70 | -160.84 | -144.70 | -130.17 | -117.10 | -105.34 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -105.80 | -44.80 | 18.80 | 43.30 | -33.70 | -15.69 | -14.12 | -12.70 | -11.43 | -10.28 |
Weighted Average Cost Of Capital
| Share price | $ 11.36 |
|---|---|
| Beta | 1.768 |
| Diluted Shares Outstanding | 82.72 |
| Cost of Debt | |
| Tax Rate | 1,035.07 |
| After-tax Cost of Debt | -115.01% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.865 |
| Total Debt | 760.30 |
| Total Equity | 939.71 |
| Total Capital | 1,700.01 |
| Debt Weighting | 44.72 |
| Equity Weighting | 55.28 |
| 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 | 1,188.10 | 1,153.80 | 1,145.80 | 1,148.40 | 725.70 | 652.84 | 587.29 | 528.33 | 475.28 | 427.56 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 195.50 | 269.30 | 266.30 | 277.40 | 174 | 145.15 | 130.58 | 117.47 | 105.67 | 95.06 |
| Capital Expenditure | -301.30 | -314.10 | -247.50 | -234.10 | -207.70 | -160.84 | -144.70 | -130.17 | -117.10 | -105.34 |
| Free Cash Flow | -105.80 | -44.80 | 18.80 | 43.30 | -33.70 | -15.69 | -14.12 | -12.70 | -11.43 | -10.28 |
| WACC | ||||||||||
| PV LFCF | -93.72 | -152.95 | -249.63 | -407.42 | -664.94 | |||||
| SUM PV LFCF | -476.59 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | -44.88 |
| Free cash flow (t + 1) | -10.48 |
| Terminal Value | 22.36 |
| Present Value of Terminal Value | 439.55 |
Intrinsic Value
| Enterprise Value | -37.04 |
|---|---|
| Net Debt | 567.10 |
| Equity Value | -604.14 |
| Shares Outstanding | 82.72 |
| Equity Value Per Share | -7.30 |