Discounted Cash Flow (DCF) Analysis Unlevered

CompX International Inc. (CIX)

$26.5

+3.20 (+13.73%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 26.5 | undervalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 124.20114.50140.80166.60161.29173.50186.64200.78215.98232.34
Revenue (%)
EBITDA 17.7011.8020.5025.4025.4424.3426.1828.1630.3032.59
EBITDA (%)
EBIT 14.027.9716.6621.4221.4619.522122.5924.3026.14
EBIT (%)
Depreciation 3.683.833.843.983.974.825.185.5866.45
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Total Cash 63.2670.6476.5859.9076.7586.9493.52100.61108.23116.42
Total Cash (%)
Account Receivables 11.8710.7315.5517.8417.0617.7919.1320.5822.1423.82
Account Receivables (%)
Inventories 18.3518.3425.6431.2930.7130.1332.4134.8637.5040.35
Inventories (%)
Accounts Payable 2.512.633.413.543.583.854.144.454.795.15
Accounts Payable (%)
Capital Expenditure -3.17-1.74-4.09-3.69-1.13-3.43-3.69-3.97-4.27-4.60
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 26.5
Beta 0.766
Diluted Shares Outstanding 12.31
Cost of Debt
Tax Rate 23.68
After-tax Cost of Debt 3.82%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.813
Total Debt -
Total Equity 326.24
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 124.20114.50140.80166.60161.29173.50186.64200.78215.98232.34
EBITDA 17.7011.8020.5025.4025.4424.3426.1828.1630.3032.59
EBIT 14.027.9716.6621.4221.4619.522122.5924.3026.14
Tax Rate 23.44%23.53%23.65%23.55%23.68%23.57%23.57%23.57%23.57%23.57%
EBIAT 10.736.1012.7216.3816.3814.9216.0517.2618.5719.98
Depreciation 3.683.833.843.983.974.825.185.5866.45
Accounts Receivable -1.14-4.82-2.290.78-0.73-1.35-1.45-1.56-1.68
Inventories -0.01-7.31-5.650.580.58-2.28-2.45-2.64-2.84
Accounts Payable -0.120.780.130.040.270.290.310.340.36
Capital Expenditure -3.17-1.74-4.09-3.69-1.13-3.43-3.69-3.97-4.27-4.60
UFCF 11.259.451.128.8520.6216.4314.2015.2716.4317.68
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 17.76
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -41.39
Equity Value -
Shares Outstanding 12.31
Equity Value Per Share -