Discounted Cash Flow (DCF) Analysis Unlevered

Marine Products Corporation (MPX)

$11.45

-0.25 (-2.14%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 11.45 | undervalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 267.32298.62292.14239.83298.01309.86322.17334.97348.28362.13
Revenue (%)
EBITDA 31.5137.4836.5526.4138.2237.6139.1040.6642.2743.95
EBITDA (%)
EBIT 29.9935.6634.4624.4636.4135.5536.9638.4339.9641.55
EBIT (%)
Depreciation 1.531.822.091.951.822.062.142.222.312.40
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 10.3211.7119.8031.5714.1020.1120.9121.7522.6123.51
Total Cash (%)
Account Receivables 3.764.327.514.713.275.265.475.695.916.15
Account Receivables (%)
Inventories 38.0146.7741.5542.3173.2653.5055.6357.8460.1362.52
Inventories (%)
Accounts Payable 5.364.673.896.086.776.026.266.506.767.03
Accounts Payable (%)
Capital Expenditure -2.41-2.15-2.33-2.10-1.25-2.30-2.39-2.49-2.59-2.69
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 11.45
Beta 1.115
Diluted Shares Outstanding 33.99
Cost of Debt
Tax Rate 20.28
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.052
Total Debt -
Total Equity 389.21
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 267.32298.62292.14239.83298.01309.86322.17334.97348.28362.13
EBITDA 31.5137.4836.5526.4138.2237.6139.1040.6642.2743.95
EBIT 29.9935.6634.4624.4636.4135.5536.9638.4339.9641.55
Tax Rate 35.64%20.10%18.05%20.49%20.28%22.91%22.91%22.91%22.91%22.91%
EBIAT 19.3028.4928.2419.4429.0327.4128.5029.6330.8032.03
Depreciation 1.531.822.091.951.822.062.142.222.312.40
Accounts Receivable --0.56-3.192.811.43-1.99-0.21-0.22-0.23-0.23
Inventories --8.765.22-0.76-30.9519.76-2.13-2.21-2.30-2.39
Accounts Payable --0.69-0.792.190.69-0.750.240.250.260.27
Capital Expenditure -2.41-2.15-2.33-2.10-1.25-2.30-2.39-2.49-2.59-2.69
UFCF 18.4218.1429.2323.540.7744.1826.1427.1828.2629.39
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 29.97
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -14.10
Equity Value -
Shares Outstanding 33.99
Equity Value Per Share -