Discounted Cash Flow (DCF) Analysis Levered

Winpak Ltd. (WPK.TO)

$44.57

+0.06 (+0.13%)
All numbers are in Millions, Currency in USD
Stock DCF: 86.24 | 44.57 | 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 889.64873.84852.491,001.991,181.131,273.251,372.551,479.601,594.991,719.39
Revenue (%)
Operating Cash Flow 130.02160.03156.0197.0677.57171.84185.25199.69215.27232.06
Operating Cash Flow (%)
Capital Expenditure -71.60-58.17-51.50-48.54-49.46-75.83-81.74-88.12-94.99-102.40
Capital Expenditure (%)
Free Cash Flow 58.42101.86104.5148.5228.1196.01103.50111.57120.27129.65

Weighted Average Cost Of Capital

Share price $ 44.57
Beta 0.098
Diluted Shares Outstanding 65
Cost of Debt
Tax Rate 26.28
After-tax Cost of Debt 4.53%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.272
Total Debt 12.53
Total Equity 2,897.05
Total Capital 2,909.58
Debt Weighting 0.43
Equity Weighting 99.57
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 889.64873.84852.491,001.991,181.131,273.251,372.551,479.601,594.991,719.39
Operating Cash Flow 130.02160.03156.0197.0677.57171.84185.25199.69215.27232.06
Capital Expenditure -71.60-58.17-51.50-48.54-49.46-75.83-81.74-88.12-94.99-102.40
Free Cash Flow 58.42101.86104.5148.5228.1196.01103.50111.57120.27129.65
WACC
PV LFCF 92.0895.2098.42101.75105.19
SUM PV LFCF 492.64

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.27
Free cash flow (t + 1) 132.25
Terminal Value 5,825.89
Present Value of Terminal Value 4,726.78

Intrinsic Value

Enterprise Value 5,219.42
Net Debt -386.14
Equity Value 5,605.56
Shares Outstanding 65
Equity Value Per Share 86.24