Discounted Cash Flow (DCF) Analysis Unlevered

iRobot Corporation (IRBT)

$45.36

-0.22 (-0.48%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 45.36 | undervalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 883.911,092.581,214.011,424.771,672.121,962.422,303.112,702.953,172.203,722.924,369.24
Revenue (%)
EBITDA 101.86145.20135.99171.05200.74235.59276.49324.49380.83446.94524.53
EBITDA (%)
EBIT 76.37108.6298.83126.91148.94174.80205.15240.76282.56331.62389.19
EBIT (%)
Depreciation 25.5036.5737.1644.1451.8060.7971.3483.7398.27115.33135.35
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 165.86161.98256.42259.84304.95357.89420.02492.94578.52678.96796.83
Total Cash (%)
Account Receivables 142.83162.17146.16204.41239.90281.55330.42387.79455.11534.12626.85
Account Receivables (%)
Inventories 106.93164.63157.35190.57223.66262.48308.05361.53424.30497.96584.41
Inventories (%)
Accounts Payable 116.32136.74116.18167.39196.45230.55270.58317.55372.68437.38513.31
Accounts Payable (%)
Capital Expenditure -23.37-32.42-35.34-40.47-47.50-55.75-65.43-76.78-90.11-105.76-124.12
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 45.36
Beta 1.188
Diluted Shares Outstanding 28.16
Cost of Debt
Tax Rate -7.45
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.125
Total Debt 49.68
Total Equity 1,277.43
Total Capital 1,327.11
Debt Weighting 3.74
Equity Weighting 96.26
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 883.911,092.581,214.011,424.771,672.121,962.422,303.112,702.953,172.203,722.924,369.24
EBITDA 101.86145.20135.99171.05200.74235.59276.49324.49380.83446.94524.53
EBIT 76.37108.6298.83126.91148.94174.80205.15240.76282.56331.62389.19
Tax Rate 33.26%18.99%13.69%16.05%21.74%-7.45%16.05%16.05%16.05%16.05%16.05%
EBIAT 50.9687.9985.30106.54116.57187.82172.23202.13237.22278.40326.73
Depreciation 25.5036.5737.1644.1451.8060.7971.3483.7398.27115.33135.35
Accounts Receivable --19.3416.01-58.25-35.49-41.65-48.88-57.36-67.32-79.01-92.73
Inventories --57.707.29-33.22-33.08-38.83-45.57-53.48-62.77-73.66-86.45
Accounts Payable -20.43-20.5651.2029.0634.1040.0346.9755.1364.7075.93
Capital Expenditure -23.37-32.42-35.34-40.47-31.60-29.93-65.43-76.78-90.11-105.76-124.12
UFCF 53.0935.5389.8669.9381.35146.49123.72145.20170.41199.99234.71
WACC
PV UFCF -81.35------
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 239.41
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -151.78
Equity Value -
Shares Outstanding 28.16
Equity Value Per Share -