Discounted Cash Flow (DCF) Analysis Levered
Yatra Online, Inc. (YTRA)
$2.2501
+0.04 (+1.81%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 9,358.58 | 7,259.35 | 1,271.27 | 1,989.38 | 3,827.26 | 4,247.82 | 4,714.59 | 5,232.65 | 5,807.64 | 6,445.81 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -3,542.13 | -550.36 | 765.44 | -972.20 | -1,962.35 | -725.20 | -804.89 | -893.34 | -991.50 | -1,100.45 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -424.30 | -219.32 | -78.97 | -99.40 | -154.19 | -193.63 | -214.91 | -238.53 | -264.74 | -293.83 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -3,966.44 | -769.68 | 686.47 | -1,071.60 | -2,116.54 | -918.84 | -1,019.80 | -1,131.87 | -1,256.24 | -1,394.28 |
Weighted Average Cost Of Capital
| Share price | $ 2.2,501 |
|---|---|
| Beta | 1.398 |
| Diluted Shares Outstanding | 62.99 |
| Cost of Debt | |
| Tax Rate | -19.38 |
| After-tax Cost of Debt | 12.54% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.038 |
| Total Debt | 2,603.88 |
| Total Equity | 141.74 |
| Total Capital | 2,745.62 |
| Debt Weighting | 94.84 |
| Equity Weighting | 5.16 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 9,358.58 | 7,259.35 | 1,271.27 | 1,989.38 | 3,827.26 | 4,247.82 | 4,714.59 | 5,232.65 | 5,807.64 | 6,445.81 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -3,542.13 | -550.36 | 765.44 | -972.20 | -1,962.35 | -725.20 | -804.89 | -893.34 | -991.50 | -1,100.45 |
| Capital Expenditure | -424.30 | -219.32 | -78.97 | -99.40 | -154.19 | -193.63 | -214.91 | -238.53 | -264.74 | -293.83 |
| Free Cash Flow | -3,966.44 | -769.68 | 686.47 | -1,071.60 | -2,116.54 | -918.84 | -1,019.80 | -1,131.87 | -1,256.24 | -1,394.28 |
| WACC | ||||||||||
| PV LFCF | -817.04 | -806.35 | -795.79 | -785.38 | -775.10 | |||||
| SUM PV LFCF | -3,979.66 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.46 |
| Free cash flow (t + 1) | -1,422.17 |
| Terminal Value | -13,596.25 |
| Present Value of Terminal Value | -7,558.38 |
Intrinsic Value
| Enterprise Value | -11,538.04 |
|---|---|
| Net Debt | 2,100.28 |
| Equity Value | -13,638.32 |
| Shares Outstanding | 62.99 |
| Equity Value Per Share | -216.51 |