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Major Indexes

Discounted Cash Flow (DCF) Analysis Levered


Alpha Pro Tech Ltd.

Alpha Pro Tech Ltd. (APT)

$17.34
0.15 (+0.87%)

Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 43.8147.6544.9646.1844.0346.6246.6747.2247.7848.3548.93
Revenue (%)
Operating Cash Flow 6.09-0.885.976.834.012.003.104.064.114.164.21
Operating Cash Flow (%)
Capital Expenditure 0.350.950.270.271.220.611.300.730.740.750.76
Capital Expenditure (%)
Free Cash Flow 6.440.076.247.105.232.614.404.794.854.914.97

Weighted Average Cost Of Capital

Weighted Average Cost Of Capital

Share price $ 17.34
Diluted Shares Outstanding 13.17
Cost of Debt
Tax Rate 18.48
After-tax Cost of Debt -0.87
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.00
Total Debt 2.34
Total Equity 228.35
Total Capital 230.68
Debt Weighting 1.01
Equity Weighting 98.99
Wacc

Build Up Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 43.8147.6544.9646.1844.0346.6246.6747.2247.7848.3548.93
Operating Cash Flow 6.09-0.885.976.834.012.003.104.064.114.164.21
Capital Expenditure 0.350.950.270.271.220.611.300.730.740.750.76
Free Cash Flow 6.440.076.247.105.232.614.404.794.854.914.97
WACC
PV LFCF 4.113.853.613.39
SUM PV LFCF 33.46

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.96
Free cash flow (t + 1) 2.90
Terminal Value 73.18
Present Value of Terminal Value 49.90

Intrinsic Value

Enterprise Value 71.12
Net Debt -4.55
Equity Value 75.67
Shares Outstanding 13.17
Equity Value Per Share 9.64