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
Stock DCF: - | 28.16 | undervalue

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 141.24161.06193.44219.16249.46287.67331.73382.54441.13508.69
Revenue (%)
EBITDA -8.22-1.11-3.94-3.964.11-5.01-5.78-6.66-7.68-8.86
EBITDA (%)
EBIT -15.01-6.61-11.91-12.95-4.12-16.37-18.88-21.77-25.10-28.95
EBIT (%)
Depreciation 6.795.507.978.998.2211.3613.1015.1017.4220.09
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 60.78200.49165.47193.52301.36265.90306.63353.59407.74470.20
Total Cash (%)
Account Receivables 26.9535.8043.1949.1261.7663.7573.5184.7797.76112.73
Account Receivables (%)
Inventories -000000000
Inventories (%)
Accounts Payable 2.303.014.805.823.895.876.767.808.9910.37
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 141.24161.06193.44219.16249.46287.67331.73382.54441.13508.69
EBITDA -8.22-1.11-3.94-3.964.11-5.01-5.78-6.66-7.68-8.86
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 6.795.507.978.998.2211.3613.1015.1017.4220.09
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 -0.711.791.02-1.931.980.901.041.191.38
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 -