Discounted Cash Flow (DCF) Analysis Unlevered

Consensus Cloud Solutions, Inc. (CCSI)

$58.4

+1.61 (+2.83%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,306.48 | 58.4 | undervalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 661.84678.46617.89598.08578.89560.33542.35524.96
Revenue (%)
EBITDA 317.46363.57194.14265.09256.59248.36240.39232.68
EBITDA (%)
EBIT 236.49283.81142.15200.49194.06187.84181.81175.98
EBIT (%)
Depreciation 80.9779.7551.9964.6062.5360.5258.5856.70
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 122.77128.1967.1996.3393.2490.2587.3584.55
Total Cash (%)
Account Receivables 45.8842.2425.9434.6033.4932.4231.3830.37
Account Receivables (%)
Inventories --------
Inventories (%)
Accounts Payable 112.5881.0489.4686.5983.8181.1278.5276
Accounts Payable (%)
Capital Expenditure -22.94-35.57-34.57-28.52-27.60-26.72-25.86-25.03
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 58.4
Beta 0.000
Diluted Shares Outstanding 20.06
Cost of Debt
Tax Rate 17.66
After-tax Cost of Debt 1.38%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.529
Total Debt 822.68
Total Equity 1,171.55
Total Capital 1,994.23
Debt Weighting 41.25
Equity Weighting 58.75
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 661.84678.46617.89598.08578.89560.33542.35524.96
EBITDA 317.46363.57194.14265.09256.59248.36240.39232.68
EBIT 236.49283.81142.15200.49194.06187.84181.81175.98
Tax Rate -10.19%26.50%17.66%11.32%11.32%11.32%11.32%11.32%
EBIAT 260.58208.60117.05177.79172.09166.57161.22156.05
Depreciation 80.9779.7551.9964.6062.5360.5258.5856.70
Accounts Receivable -3.6316.31-8.661.111.071.041.01
Inventories --------
Accounts Payable --31.548.42-2.87-2.78-2.69-2.60-2.52
Capital Expenditure -22.94-35.57-34.57-28.52-27.60-26.72-25.86-25.03
UFCF 318.60224.87159.19202.34205.34198.76192.38186.21
WACC
PV UFCF 207.68205.34193.64182.61172.21
SUM PV UFCF 912.66

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.64
Free cash flow (t + 1) 189.93
Terminal Value 29,677.30
Present Value of Terminal Value 26,052

Intrinsic Value

Enterprise Value 26,964.66
Net Debt 755.48
Equity Value 26,209.18
Shares Outstanding 20.06
Equity Value Per Share 1,306.48