Complete GETY Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
GETY DCF Analysis
GETY (Getty Images Holdings, Inc.) discounted cash flow analysis with multiple scenarios, growth assumptions, and terminal value calculations
Financial Projections
| Metrics | 2022 (Historical) | 2023 (Historical) | 2024 (Historical) | 2025 (Projected) | 2026 (Projected) | 2027 (Projected) | 2028 (Projected) | 2029 (Projected) |
|---|---|---|---|---|---|---|---|---|
| Revenue | $926.2M | $916.6M | $939.3M | $959.1M | $977.3M | $994.0M | $1.0B | $1.0B |
| Revenue Growth % | - | -1.0% | 2.5% | 2.1% | 1.9% | 1.7% | 1.5% | 1.4% |
| EBIT | $202.0M | $127.7M | $180.8M | $175.8M | $180.1M | $184.2M | $188.0M | $191.7M |
| EBIT Margin % | 21.8% | 13.9% | 19.2% | 18.3% | 18.4% | 18.5% | 18.6% | 18.7% |
| Tax Rate % | 25.0% | 25.0% | 50.0% | 27.8% | 27.5% | 27.2% | 26.9% | 26.7% |
| NOPAT | $151.5M | $95.8M | $90.4M | $127.0M | $130.6M | $134.1M | $137.4M | $140.6M |
| NOPAT Margin % | 16.4% | 10.4% | 9.6% | 13.2% | 13.4% | 13.5% | 13.6% | 13.7% |
| Capex | $59.3M | $57.0M | $57.5M | $56.8M | $55.0M | $53.1M | $51.2M | $49.4M |
| Capex / Revenue % | 6.4% | 6.2% | 6.1% | 5.9% | 5.6% | 5.3% | 5.1% | 4.8% |
| Depreciation | $93.2M | $78.4M | $59.0M | $79.6M | $81.1M | $82.5M | $83.8M | $84.9M |
| D&A / Revenue % | 10.1% | 8.6% | 6.3% | 8.3% | 8.3% | 8.3% | 8.3% | 8.3% |
| Change in NWC | $-81.9M | $-14.0M | $-27.4M | $-25.3M | $-20.6M | $-16.8M | $-13.6M | $-11.1M |
| NWC Change / Revenue % | -8.8% | -1.5% | -2.9% | -2.6% | -2.1% | -1.7% | -1.4% | -1.1% |
| Unlevered FCF | $267.4M | $131.2M | $119.4M | $175.1M | $177.4M | $180.3M | $183.6M | $187.2M |
| UFCF % Chg. | - | -50.9% | -9.0% | 46.7% | 1.3% | 1.6% | 1.8% | 2.0% |
| FCF / Revenue % | 28.9% | 14.3% | 12.7% | 18.3% | 18.2% | 18.1% | 18.2% | 18.3% |
| Discount Factor | - | - | - | 0.928 | 0.861 | 0.799 | 0.741 | 0.688 |
| Present Value of FCF | - | - | - | $162.5M | $152.7M | $144.0M | $136.0M | $128.7M |
| Sum of PV of UFCF | - | - | - | $162.5M | $315.2M | $459.2M | $595.2M | $723.9M |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 7.4% |
| Tax Rate | 27.8% |
| After Tax Cost of Debt | 5.3% |
| Risk Free Rate | 4.37% |
| Market Risk Premium | 4.3% |
| Beta | 1.93 |
| Cost of Equity | 12.7% |
| Total Debt | $1.4B |
| Market Cap | $675.9M |
| Total Capital | $2.0B |
| Debt Weighting | 66.7% |
| Equity Weighting | 33.3% |
| WACC | 7.8% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $187.2M |
| Terminal Value | $3.6B |
| PV of Terminal Value | $2.5B |
| Cumulative PV of UFCF | $723.9M |
| Net Debt | $1.2B |
| Equity Value | $2.0B |
| Shares Outstanding | 414.9M |
| Implied Share Price | $5 |
| Current Share Price | $2 |
| Implied Upside/(Downside) | +193.2% |
Valuation Summary
$4.79
Implied Price
$1.64
Current Price
+193.2%
Upside/Downside
7.8%
WACC
GETY Earnings Power Value (EPV)
Normalized earnings-based valuation for sustainable earning power assessment
Earnings Normalization
| Earnings Component | Amount ($B) | Description |
|---|---|---|
| Reported Earnings | 0.0 | Base earnings from financial statements |
| Normalized Earnings | 0.0 | Final normalized earning power |
One-time Items: Remove non-recurring gains/losses
Cyclical Adjustment: Normalize for economic cycle position
EPV Result
$1.77
EPV per Share
$1.64
Current Price
+8.4%
Upside/Downside
5.4%
WACC: 5.4% (calculated from market data)
Confidence: High
Normalized earnings approach
EPV Calculation Breakdown
Enterprise Value Calculation
| Normalized Earnings | $0.0B |
| Cost of Capital | 5.4% |
| Enterprise Value | $0.7B |
Per Share Value
| Enterprise Value | $0.7B |
| Shares Outstanding | 0.4B |
| EPV per Share | $1.77 |
WACC Components
| Cost of Equity | 9.1% |
| After-Tax Cost of Debt | 3.5% |
| Equity Weight | 33.4% |
| Debt Weight | 66.6% |
| WACC | 5.4% |