Discounted Cash Flow (DCF) Analysis Unlevered

Columbia Sportswear Company (COLM)

$90.67

-0.57 (-0.62%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 90.67 | undervalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 2,802.333,042.482,501.553,126.403,464.153,694.283,939.694,201.414,480.514,778.15
Revenue (%)
EBITDA 412.25527.15286.12567.08397.41540575.87614.13654.93698.43
EBITDA (%)
EBIT 354.02405.43139.52451.51262395.59421.87449.90479.78511.66
EBIT (%)
Depreciation 58.23121.73146.60115.57135.41144.41154164.23175.14186.78
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 700.63687.68791.95894.55430.96888.96948.011,010.991,078.151,149.77
Total Cash (%)
Account Receivables 449.38488.23452.95487.80547.56602.90642.95685.66731.21779.78
Account Receivables (%)
Inventories 521.83605.97556.53645.381,028.55821.01875.55933.72995.741,061.89
Inventories (%)
Accounts Payable 274.44255.37206.70283.35322.47331.16353.16376.63401.64428.33
Accounts Payable (%)
Capital Expenditure -65.62-123.52-28.76-34.74-58.47-76.47-81.55-86.97-92.75-98.91
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 90.67
Beta 0.898
Diluted Shares Outstanding 62.97
Cost of Debt
Tax Rate 21.63
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.896
Total Debt 379.31
Total Equity 5,709.49
Total Capital 6,088.80
Debt Weighting 6.23
Equity Weighting 93.77
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 2,802.333,042.482,501.553,126.403,464.153,694.283,939.694,201.414,480.514,778.15
EBITDA 412.25527.15286.12567.08397.41540575.87614.13654.93698.43
EBIT 354.02405.43139.52451.51262395.59421.87449.90479.78511.66
Tax Rate 25.63%18.48%22.58%21.57%21.63%21.98%21.98%21.98%21.98%21.98%
EBIAT 263.28330.49108.01354.11205.32308.64329.14351374.32399.19
Depreciation 58.23121.73146.60115.57135.41144.41154164.23175.14186.78
Accounts Receivable --38.8535.29-34.86-59.76-55.34-40.05-42.71-45.55-48.57
Inventories --84.1449.44-88.85-383.17207.53-54.54-58.16-62.03-66.15
Accounts Payable --19.06-48.6776.6539.128.692223.4625.0226.68
Capital Expenditure -65.62-123.52-28.76-34.74-58.47-76.47-81.55-86.97-92.75-98.91
UFCF 255.89186.64261.91387.88-121.53537.46329350.85374.16399.01
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 406.99
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -50.93
Equity Value -
Shares Outstanding 62.97
Equity Value Per Share -