Discounted Cash Flow (DCF) Analysis Levered
The Alkaline Water Company Inc. (WTER)
$1.9717
-0.09 (-4.29%)
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 | 19.81 | 32.20 | 41.14 | 46.61 | 60.60 | 80.83 | 107.83 | 143.85 | 191.89 | 255.98 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -2.63 | -8.13 | -13.64 | -14.28 | -31.82 | -25.03 | -33.39 | -44.54 | -59.41 | -79.25 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.32 | -1.36 | -0.49 | -0.59 | -0.99 | -1.60 | -2.13 | -2.85 | -3.80 | -5.07 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -2.94 | -9.48 | -14.13 | -14.87 | -32.81 | -26.63 | -35.52 | -47.38 | -63.21 | -84.32 |
Weighted Average Cost Of Capital
| Share price | $ 1.9,717 |
|---|---|
| Beta | 1.776 |
| Diluted Shares Outstanding | 6.61 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 259.54% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.072 |
| Total Debt | 0.35 |
| Total Equity | 13.03 |
| Total Capital | 13.38 |
| Debt Weighting | 2.64 |
| Equity Weighting | 97.36 |
| 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 | 19.81 | 32.20 | 41.14 | 46.61 | 60.60 | 80.83 | 107.83 | 143.85 | 191.89 | 255.98 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -2.63 | -8.13 | -13.64 | -14.28 | -31.82 | -25.03 | -33.39 | -44.54 | -59.41 | -79.25 |
| Capital Expenditure | -0.32 | -1.36 | -0.49 | -0.59 | -0.99 | -1.60 | -2.13 | -2.85 | -3.80 | -5.07 |
| Free Cash Flow | -2.94 | -9.48 | -14.13 | -14.87 | -32.81 | -26.63 | -35.52 | -47.38 | -63.21 | -84.32 |
| WACC | ||||||||||
| PV LFCF | -22.45 | -25.25 | -28.40 | -31.94 | -35.92 | |||||
| SUM PV LFCF | -143.95 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 18.61 |
| Free cash flow (t + 1) | -86.01 |
| Terminal Value | -517.80 |
| Present Value of Terminal Value | -220.58 |
Intrinsic Value
| Enterprise Value | -364.53 |
|---|---|
| Net Debt | -1.18 |
| Equity Value | -363.35 |
| Shares Outstanding | 6.61 |
| Equity Value Per Share | -54.98 |