Discounted Cash Flow (DCF) Analysis Levered

XL Fleet Corp. (XL)

$1.14

+0.27 (+-%)
All numbers are in Millions, Currency in USD
Stock DCF: 109.75 | 1.14 | undervalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 10,484.9111,144.4911,845.5712,590.7513,382.8114,224.7015,119.5416,070.6917,081.6618,156.2419,298.41
Revenue (%)
Operating Cash Flow 915.3433.32534.77568.41604.17642.18682.57725.51771.15819.66871.23
Operating Cash Flow (%)
Capital Expenditure ----0.03-0.14-3.64-1.36-1.44-1.53-1.63-1.73
Capital Expenditure (%)
Free Cash Flow 915.3433.32534.77568.38604.02638.53681.22724.07769.62818.04869.50

Weighted Average Cost Of Capital

Share price $ 1.14
Beta 0.887
Diluted Shares Outstanding 131.37
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.85%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.803
Total Debt 4.60
Total Equity 149.76
Total Capital 154.35
Debt Weighting 2.98
Equity Weighting 97.02
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 10,484.9111,144.4911,845.5712,590.7513,382.8114,224.7015,119.5416,070.6917,081.6618,156.2419,298.41
Operating Cash Flow 915.3433.32534.77568.41604.17642.18682.57725.51771.15819.66871.23
Capital Expenditure ----0.03-0.14-3.64-1.36-1.44-1.53-1.63-1.73
Free Cash Flow 915.3433.32534.77568.38604.02638.53681.22724.07769.62818.04869.50
WACC
PV LFCF 429.27424.03418.79411.44407.94402.98398.08393.23388.45
SUM PV LFCF 3,089.41

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.60
Free cash flow (t + 1) 886.89
Terminal Value 15,837.28
Present Value of Terminal Value 10,980.43

Intrinsic Value

Enterprise Value 14,069.84
Net Debt -347.08
Equity Value 14,416.92
Shares Outstanding 131.37
Equity Value Per Share 109.75