Discounted Cash Flow (DCF) Analysis Levered

KLX Energy Services Holdings, Inc. (KLXE)

$ 10.32
0.68 (+7.05%)

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 152.20320.50495.30544276362.72476.70626.48823.331,082.03
Revenue (%)
Operating Cash Flow -37.50-9.406258.10-64-19.99-26.28-34.53-45.39-59.65
Operating Cash Flow (%)
Capital Expenditure -29-48.80-84-70.80-12-49.77-65.40-85.96-112.96-148.46
Capital Expenditure (%)
Free Cash Flow -66.50-58.20-22-12.70-76-69.76-91.68-120.49-158.35-208.11

Weighted Average Cost Of Capital

Share price $ 10.32
Beta 3.453
Diluted Shares Outstanding 6.53
Cost of Debt
Tax Rate -0.30
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 29.950
Total Debt 244
Total Equity 67.37
Total Capital 311.37
Debt Weighting 78.36
Equity Weighting 21.64
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 152.20320.50495.30544276362.72476.70626.48823.331,082.03
Operating Cash Flow -37.50-9.406258.10-64-19.99-26.28-34.53-45.39-59.65
Capital Expenditure -29-48.80-84-70.80-12-49.77-65.40-85.96-112.96-148.46
Free Cash Flow -66.50-58.20-22-12.70-76-69.76-91.68-120.49-158.35-208.11
WACC
PV LFCF -85.03-101.22-120.49-143.43-170.74
SUM PV LFCF -461.45

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.40
Free cash flow (t + 1) -216.43
Terminal Value -3,381.71
Present Value of Terminal Value -2,062.01

Intrinsic Value

Enterprise Value -2,523.46
Net Debt 197
Equity Value -2,720.46
Shares Outstanding 6.53
Equity Value Per Share -416.75