Discounted Cash Flow (DCF) Analysis Unlevered
William Blair Small Cap Growth Fund... (WBSNX)
$28.16
-0.05 (-0.18%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 141.24 | 161.06 | 193.44 | 219.16 | 249.46 | 287.67 | 331.73 | 382.54 | 441.13 | 508.69 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | -8.22 | -1.11 | -3.94 | -3.96 | 4.11 | -5.01 | -5.78 | -6.66 | -7.68 | -8.86 |
EBITDA (%) | ||||||||||
EBIT | -15.01 | -6.61 | -11.91 | -12.95 | -4.12 | -16.37 | -18.88 | -21.77 | -25.10 | -28.95 |
EBIT (%) | ||||||||||
Depreciation | 6.79 | 5.50 | 7.97 | 8.99 | 8.22 | 11.36 | 13.10 | 15.10 | 17.42 | 20.09 |
Depreciation (%) |
Balance Sheet Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Total Cash | 60.78 | 200.49 | 165.47 | 193.52 | 301.36 | 265.90 | 306.63 | 353.59 | 407.74 | 470.20 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | 26.95 | 35.80 | 43.19 | 49.12 | 61.76 | 63.75 | 73.51 | 84.77 | 97.76 | 112.73 |
Account Receivables (%) | ||||||||||
Inventories | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Inventories (%) | ||||||||||
Accounts Payable | 2.30 | 3.01 | 4.80 | 5.82 | 3.89 | 5.87 | 6.76 | 7.80 | 8.99 | 10.37 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | -0.28 | -0.58 | -1.06 | -0.99 | -0.45 | -1 | -1.15 | -1.33 | -1.53 | -1.77 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 28.16 |
---|---|
Beta | 1.010 |
Diluted Shares Outstanding | 38.08 |
Cost of Debt | |
Tax Rate | -9.15 |
After-tax Cost of Debt | -% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.123 |
Total Debt | - |
Total Equity | 1,072.36 |
Total Capital | - |
Debt Weighting | - |
Equity Weighting | - |
Wacc |
Build Up Free Cash
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 141.24 | 161.06 | 193.44 | 219.16 | 249.46 | 287.67 | 331.73 | 382.54 | 441.13 | 508.69 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | -8.22 | -1.11 | -3.94 | -3.96 | 4.11 | -5.01 | -5.78 | -6.66 | -7.68 | -8.86 |
EBIT | -15.01 | -6.61 | -11.91 | -12.95 | -4.12 | -16.37 | -18.88 | -21.77 | -25.10 | -28.95 |
Tax Rate | -5.64% | -6.32% | -2.65% | -5.43% | -9.15% | -5.84% | -5.84% | -5.84% | -5.84% | -5.84% |
EBIAT | -15.86 | -7.02 | -12.23 | -13.66 | -4.49 | -17.32 | -19.98 | -23.04 | -26.57 | -30.64 |
Depreciation | 6.79 | 5.50 | 7.97 | 8.99 | 8.22 | 11.36 | 13.10 | 15.10 | 17.42 | 20.09 |
Accounts Receivable | - | -8.84 | -7.39 | -5.94 | -12.64 | -1.99 | -9.76 | -11.26 | -12.98 | -14.97 |
Inventories | - | - | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
Accounts Payable | - | 0.71 | 1.79 | 1.02 | -1.93 | 1.98 | 0.90 | 1.04 | 1.19 | 1.38 |
Capital Expenditure | -0.28 | -0.58 | -1.05 | -0.99 | -0.45 | -1 | -1.15 | -1.33 | -1.53 | -1.77 |
UFCF | -9.35 | -10.24 | -10.91 | -10.58 | -11.29 | -6.98 | -16.90 | -19.48 | -22.47 | -25.91 |
WACC | ||||||||||
PV UFCF | - | - | - | - | - | |||||
SUM PV UFCF | - |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | - |
Free cash flow (t + 1) | -26.43 |
Terminal Value | - |
Present Value of Terminal Value | - |
Intrinsic Value
Enterprise Value | - |
---|---|
Net Debt | -301.36 |
Equity Value | - |
Shares Outstanding | 38.08 |
Equity Value Per Share | - |