Discounted Cash Flow (DCF) Analysis Levered
Exela Technologies, Inc. (XELA)
$5.06
-0.20 (-3.80%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 1,292.56 | 1,166.61 | 1,077.16 | 983.38 | 897.77 | 819.61 | 748.25 | 683.11 | 623.64 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||
| Operating Cash Flow | -29.78 | -111.53 | -0.09 | -38.92 | -35.53 | -32.44 | -29.61 | -27.03 | -24.68 |
| Operating Cash Flow (%) | |||||||||
| Capital Expenditure | -11.66 | -16.53 | 0 | -7.60 | -6.94 | -6.34 | -5.78 | -5.28 | -4.82 |
| Capital Expenditure (%) | |||||||||
| Free Cash Flow | -41.44 | -128.06 | -0.09 | -46.52 | -42.47 | -38.77 | -35.40 | -32.31 | -29.50 |
Weighted Average Cost Of Capital
| Share price | $ 5.06 |
|---|---|
| Beta | 1.706 |
| Diluted Shares Outstanding | 0.07 |
| Cost of Debt | |
| Tax Rate | -2.78 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.746 |
| Total Debt | 1.15 |
| Total Equity | 0.34 |
| Total Capital | 1.48 |
| Debt Weighting | 77.36 |
| Equity Weighting | 22.64 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 1,292.56 | 1,166.61 | 1,077.16 | 983.38 | 897.77 | 819.61 | 748.25 | 683.11 | 623.64 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -29.78 | -111.53 | -0.09 | -38.92 | -35.53 | -32.44 | -29.61 | -27.03 | -24.68 |
| Capital Expenditure | -11.66 | -16.53 | 0 | -7.60 | -6.94 | -6.34 | -5.78 | -5.28 | -4.82 |
| Free Cash Flow | -41.44 | -128.06 | -0.09 | -46.52 | -42.47 | -38.77 | -35.40 | -32.31 | -29.50 |
| WACC | |||||||||
| PV LFCF | -49.56 | -42.47 | -36.40 | -31.19 | -26.73 | -22.91 | |||
| SUM PV LFCF | -149.90 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.53 |
| Free cash flow (t + 1) | -30.09 |
| Terminal Value | -664.27 |
| Present Value of Terminal Value | -484.15 |
Intrinsic Value
| Enterprise Value | -634.05 |
|---|---|
| Net Debt | 1.14 |
| Equity Value | -635.19 |
| Shares Outstanding | 0.07 |
| Equity Value Per Share | -9,580.72 |