Discounted Cash Flow (DCF) Analysis Levered
Intersect ENT, Inc. (XENT)
$28.24
0.00 (0.00%)
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 | 96.30 | 108.47 | 109.14 | 80.55 | 106.75 | 111.97 | 117.45 | 123.20 | 129.23 | 135.56 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -8.04 | -13.84 | -27.25 | -35.69 | -59.47 | -32.72 | -34.32 | -36 | -37.76 | -39.61 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2.28 | -2.12 | -3.73 | -0.87 | -2.02 | -2.40 | -2.52 | -2.64 | -2.77 | -2.90 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -10.32 | -15.96 | -30.98 | -36.57 | -61.49 | -35.12 | -36.84 | -38.64 | -40.53 | -42.51 |
Weighted Average Cost Of Capital
| Share price | $ 28.24 |
|---|---|
| Beta | 1.529 |
| Diluted Shares Outstanding | 33.27 |
| Cost of Debt | |
| Tax Rate | 1.05 |
| After-tax Cost of Debt | 4.48% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.931 |
| Total Debt | 142.06 |
| Total Equity | 939.60 |
| Total Capital | 1,081.66 |
| Debt Weighting | 13.13 |
| Equity Weighting | 86.87 |
| 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 | 96.30 | 108.47 | 109.14 | 80.55 | 106.75 | 111.97 | 117.45 | 123.20 | 129.23 | 135.56 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -8.04 | -13.84 | -27.25 | -35.69 | -59.47 | -32.72 | -34.32 | -36 | -37.76 | -39.61 |
| Capital Expenditure | -2.28 | -2.12 | -3.73 | -0.87 | -2.02 | -2.40 | -2.52 | -2.64 | -2.77 | -2.90 |
| Free Cash Flow | -10.32 | -15.96 | -30.98 | -36.57 | -61.49 | -35.12 | -36.84 | -38.64 | -40.53 | -42.51 |
| WACC | ||||||||||
| PV LFCF | -31.90 | -30.40 | -28.97 | -27.60 | -26.30 | |||||
| SUM PV LFCF | -145.17 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.08 |
| Free cash flow (t + 1) | -43.36 |
| Terminal Value | -536.69 |
| Present Value of Terminal Value | -332.04 |
Intrinsic Value
| Enterprise Value | -477.21 |
|---|---|
| Net Debt | 103.66 |
| Equity Value | -580.86 |
| Shares Outstanding | 33.27 |
| Equity Value Per Share | -17.46 |