Discounted Cash Flow (DCF) Analysis Unlevered

Medallia, Inc. (MDLA)

$33.99

+0.02 (+0.06%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 33.99 | undervalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 261.19313.64402.46477.22583.76714.08873.501,068.501,307.04
Revenue (%)
EBITDA -56.73-66.60-96.19-119.53-134.12-164.06-200.69-245.49-300.29
EBITDA (%)
EBIT -68.72-80.46-111.80-148.58-161.81-197.94-242.12-296.18-362.30
EBIT (%)
Depreciation 11.9913.8615.6129.0527.6933.8841.4450.6962.01
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 60.0944.88343.70682.39387.77474.34580.23709.76868.22
Total Cash (%)
Account Receivables 90.64106.12150.66181.43210.14257.05314.44384.64470.50
Account Receivables (%)
Inventories ---------
Inventories (%)
Accounts Payable 0.651.013.6111.905.787.078.6510.5812.94
Accounts Payable (%)
Capital Expenditure -38.54-11.26-22.01-20.82-41.12-50.30-61.53-75.27-92.07
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 33.99
Beta 1.452
Diluted Shares Outstanding 144.56
Cost of Debt
Tax Rate -0.05
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.552
Total Debt 511.67
Total Equity 4,913.70
Total Capital 5,425.37
Debt Weighting 9.43
Equity Weighting 90.57
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 261.19313.64402.46477.22583.76714.08873.501,068.501,307.04
EBITDA -56.73-66.60-96.19-119.53-134.12-164.06-200.69-245.49-300.29
EBIT -68.72-80.46-111.80-148.58-161.81-197.94-242.12-296.18-362.30
Tax Rate -2.38%-2.21%-0.48%-0.05%-1.28%-1.28%-1.28%-1.28%-1.28%
EBIAT -70.36-82.23-112.33-148.66-163.88-200.47-245.23-299.97-366.94
Depreciation 11.9913.8615.6129.0527.6933.8841.4450.6962.01
Accounts Receivable --15.48-44.54-30.77-28.71-46.91-57.39-70.20-85.87
Inventories ---------
Accounts Payable -0.362.608.30-6.121.291.581.932.36
Capital Expenditure -38.54-11.26-22.01-20.82-41.12-50.30-61.53-75.27-92.07
UFCF -96.91-94.76-160.67-162.91-212.14-262.52-321.13-392.82-480.51
WACC
PV UFCF -212.14----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -490.12
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 83.34
Equity Value -
Shares Outstanding 144.56
Equity Value Per Share -