Discounted Cash Flow (DCF) Analysis Unlevered

Dover Motorsports, Inc. (DVD)

$3.61

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 3.61 | undervalue

Operating Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 45.8746.7447.0245.9638.5437.0135.5434.1332.7731.47
Revenue (%)
EBITDA 9.8210.1012.3511.6410.479.018.668.317.987.66
EBITDA (%)
EBIT 6.396.549.077.297.426.095.855.625.395.18
EBIT (%)
Depreciation 3.433.573.284.353.052.922.812.692.592.48
Depreciation (%)

Balance Sheet Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash 003.957.5812.574.264.093.923.773.62
Total Cash (%)
Account Receivables 0.421.040.680.930.630.610.580.560.540.52
Account Receivables (%)
Inventories 0.020.010.020.020.020.010.010.010.010.01
Inventories (%)
Accounts Payable 0.350.060.190.120.570.220.210.210.200.19
Accounts Payable (%)
Capital Expenditure -2.58-1.88-0.99-6.45-2-2.29-2.20-2.11-2.03-1.95
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.61
Beta 0.637
Diluted Shares Outstanding 35.84
Cost of Debt
Tax Rate -0.84
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.697
Total Debt 0.03
Total Equity 129.37
Total Capital 129.40
Debt Weighting 0.03
Equity Weighting 99.97
Wacc

Build Up Free Cash

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 45.8746.7447.0245.9638.5437.0135.5434.1332.7731.47
EBITDA 9.8210.1012.3511.6410.479.018.668.317.987.66
EBIT 6.396.549.077.297.426.095.855.625.395.18
Tax Rate 40.52%-28.90%24.02%24.51%-0.84%11.86%11.86%11.86%11.86%11.86%
EBIAT 3.808.436.895.507.485.375.164.954.754.57
Depreciation 3.433.573.284.353.052.922.812.692.592.48
Accounts Receivable --0.620.36-0.250.300.020.020.020.020.02
Inventories -0-0.010000000
Accounts Payable --0.290.13-0.070.45-0.35-0.01-0.01-0.01-0.01
Capital Expenditure -2.58-1.88-0.99-6.45-2-2.29-2.20-2.11-2.03-1.95
UFCF 4.659.219.663.099.285.675.785.555.335.12
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 5.22
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -12.54
Equity Value -
Shares Outstanding 35.84
Equity Value Per Share -