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Major Indexes

Discounted Cash Flow (DCF) Analysis Levered


Raven Industries Inc.

Raven Industries Inc. (RAVN)

$20.855
0.545 (+2.68%)

Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
Revenue 406.18394.68378.14258.23277.39377.31406.67382.51386.11389.74393.40
Revenue (%)
Operating Cash Flow 76.4452.8560.0944.0048.6344.9865.9654.8960.3960.9561.53
Operating Cash Flow (%)
Capital Expenditure 29.6930.7117.0513.044.8012.0014.111.4516.1416.2916.44
Capital Expenditure (%)
Free Cash Flow 106.1383.5577.1457.0453.4356.9780.0756.3476.5377.2577.97

Weighted Average Cost Of Capital

Weighted Average Cost Of Capital

Share price $ 20.855
Diluted Shares Outstanding 36.22
Cost of Debt
Tax Rate 12.08
After-tax Cost of Debt -0.55
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.08
Total Debt 2.37
Total Equity 755.28
Total Capital 757.65
Debt Weighting 0.31
Equity Weighting 99.69
Wacc

Build Up Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
Revenue 406.18394.68378.14258.23277.39377.31406.67382.51386.11389.74393.40
Operating Cash Flow 76.4452.8560.0944.0048.6344.9865.9654.8960.3960.9561.53
Capital Expenditure 29.6930.7117.0513.044.8012.0014.111.4516.1416.2916.44
Free Cash Flow 106.1383.5577.1457.0453.4356.9780.0756.3476.5377.2577.97
WACC
PV LFCF 58.8352.0746.08
SUM PV LFCF 410.72

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 14.05
Free cash flow (t + 1) 57.28
Terminal Value 569.99
Present Value of Terminal Value 295.39

Intrinsic Value

Enterprise Value 579.22
Net Debt -18.32
Equity Value 597.55
Shares Outstanding 36.22
Equity Value Per Share 23.39