Discounted Cash Flow (DCF) Analysis Unlevered

BGSF, Inc. (BGSF)

$11.34

-0.06 (-0.53%)
All numbers are in Millions, Currency in USD
Stock DCF: 10.03 | 11.34 | overvalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 272.60286.86294.31277.89239.03232.01225.21218.60212.19205.96
Revenue (%)
EBITDA 24.0523.6023.948.5021.8817.3516.8416.3515.8715.40
EBITDA (%)
EBIT 17.7618.5619.123.5418.1813.1612.7712.4012.0411.68
EBIT (%)
Depreciation 6.295.044.824.963.704.194.073.953.833.72
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash ----0.110.110.110.100.100.10
Total Cash (%)
Account Receivables 36.9037.6139.4941.4948.1334.8633.8432.8531.8830.95
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 1.910.150.480.220.400.540.520.510.490.48
Accounts Payable (%)
Capital Expenditure -1.15-0.92-2.23-2.14-3.20-1.68-1.63-1.58-1.53-1.49
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 11.34
Beta 1.972
Diluted Shares Outstanding 10.42
Cost of Debt
Tax Rate -7.73
After-tax Cost of Debt 3.25%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.062
Total Debt 44.03
Total Equity 118.12
Total Capital 162.16
Debt Weighting 27.15
Equity Weighting 72.85
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 272.60286.86294.31277.89239.03232.01225.21218.60212.19205.96
EBITDA 24.0523.6023.948.5021.8817.3516.8416.3515.8715.40
EBIT 17.7618.5619.123.5418.1813.1612.7712.4012.0411.68
Tax Rate 59.69%18.03%24.53%26.25%-7.73%24.15%24.15%24.15%24.15%24.15%
EBIAT 7.1615.2114.432.6119.599.989.699.409.138.86
Depreciation 6.295.044.824.963.704.194.073.953.833.72
Accounts Receivable --0.71-1.89-2-6.6413.271.020.990.960.94
Inventories ----------
Accounts Payable --1.760.33-0.260.180.14-0.02-0.02-0.01-0.01
Capital Expenditure -1.15-0.92-2.23-2.14-3.20-1.68-1.63-1.58-1.53-1.49
UFCF 12.3116.8615.473.1613.6225.9113.1412.7512.3812.02
WACC
PV UFCF 23.4710.789.488.337.33
SUM PV UFCF 59.38

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.40
Free cash flow (t + 1) 12.26
Terminal Value 145.91
Present Value of Terminal Value 88.97

Intrinsic Value

Enterprise Value 148.35
Net Debt 43.92
Equity Value 104.44
Shares Outstanding 10.42
Equity Value Per Share 10.03