Discounted Cash Flow (DCF) Analysis Unlevered

Crown Crafts, Inc. (CRWS)

$5.89

+0.01 (+0.17%)
All numbers are in Millions, Currency in USD
Stock DCF: 17.03 | 5.89 | 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 70.2776.3873.4079.1687.3692.3897.70103.31109.25115.54
Revenue (%)
EBITDA 6.758.6010.9311.2315.2012.4413.1613.9114.7115.56
EBITDA (%)
EBIT 5.587.127.777.8112.289.5610.1110.6911.3111.96
EBIT (%)
Depreciation 1.171.483.163.422.922.883.043.223.413.60
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 0.220.140.280.611.600.640.680.720.760.80
Total Cash (%)
Account Receivables 18.5017.7717.8019.3423.2323.0724.4025.8027.2828.85
Account Receivables (%)
Inventories 19.7919.5317.7320.3420.6523.5124.8626.2927.8029.40
Inventories (%)
Accounts Payable 3.774.202.975.546.375.405.716.036.386.75
Accounts Payable (%)
Capital Expenditure -0.22-0.75-0.71-0.73-0.53-0.70-0.74-0.78-0.83-0.88
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 5.89
Beta 0.761
Diluted Shares Outstanding 10.08
Cost of Debt
Tax Rate 19.54
After-tax Cost of Debt -1.52%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.990
Total Debt 2.64
Total Equity 59.39
Total Capital 62.04
Debt Weighting 4.26
Equity Weighting 95.74
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 70.2776.3873.4079.1687.3692.3897.70103.31109.25115.54
EBITDA 6.758.6010.9311.2315.2012.4413.1613.9114.7115.56
EBIT 5.587.127.777.8112.289.5610.1110.6911.3111.96
Tax Rate 44.27%26.09%15.54%21.26%19.54%25.34%25.34%25.34%25.34%25.34%
EBIAT 3.115.266.566.159.887.147.557.988.448.93
Depreciation 1.171.483.163.422.922.883.043.223.413.60
Accounts Receivable -0.73-0.03-1.54-3.890.16-1.33-1.40-1.48-1.57
Inventories -0.251.80-2.60-0.32-2.85-1.35-1.43-1.51-1.60
Accounts Payable -0.44-1.232.570.84-0.980.310.330.350.37
Capital Expenditure -0.22-0.75-0.70-0.73-0.53-0.70-0.74-0.78-0.83-0.88
UFCF 4.067.409.567.278.905.647.497.928.378.85
WACC
PV UFCF 5.296.586.536.486.42
SUM PV UFCF 31.30

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.63
Free cash flow (t + 1) 9.03
Terminal Value 195.03
Present Value of Terminal Value 141.48

Intrinsic Value

Enterprise Value 172.79
Net Debt 1.04
Equity Value 171.74
Shares Outstanding 10.08
Equity Value Per Share 17.03