Discounted Cash Flow (DCF) Analysis Levered

FTS International Inc

FTS International Inc (FTSI)

$16.14
-0.99 (-5.78%)

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
Revenue 1,543.30776.60390.79196.6598.9649.7925.06
Revenue (%)
Operating Cash Flow 384.80123.9079.8940.2020.2310.185.12
Operating Cash Flow (%)
Capital Expenditure -100.50-54.40-26.41-13.29-6.69-3.37-1.69
Capital Expenditure (%)
Free Cash Flow 284.3069.5053.4826.9113.546.813.43

Weighted Average Cost Of Capital

Share price $ 16.14
Beta 1.298
Diluted Shares Outstanding 5.44
Cost of Debt
Tax Rate -1.96
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.794
Total Debt 485.10
Total Equity 87.80
Total Capital 572.90
Debt Weighting 84.67
Equity Weighting 15.33
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
Revenue 1,543.30776.60390.79196.6598.9649.7925.06
Operating Cash Flow 384.80123.9079.8940.2020.2310.185.12
Capital Expenditure -100.50-54.40-26.41-13.29-6.69-3.37-1.69
Free Cash Flow 284.3069.5053.4826.9113.546.813.43
WACC
PV LFCF 60.3128.5813.546.423.04
SUM PV LFCF 93.44

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.19
Free cash flow (t + 1) 3.57
Terminal Value 162.85
Present Value of Terminal Value 120.60

Intrinsic Value

Enterprise Value 214.04
Net Debt 233.90
Equity Value -19.86
Shares Outstanding 5.44
Equity Value Per Share -3.65