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Intrinsic Value of DISH Network Corporation (DISH)

Previous Close$5.15
Intrinsic Value
Upside potential
Previous Close
$5.15

VALUATION INPUT DATA

This valuation is based on fiscal year data as of 2022-12-31 and quarterly data as of 2023-06-30.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2022(a)2023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047

INCOME STATEMENT

Revenue growth rate, %-6.7NaN
Revenue, $16679NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m14634NaN
Operating income, $m2046NaN
EBITDA, $m2763NaN
Interest expense (income), $mNaN
Earnings before tax, $m3035NaN
Tax expense, $m732NaN
Net income, $m2303NaN

BALANCE SHEET

Cash and short-term investments, $m2621NaN
Total assets, $m52607NaN
Adjusted assets (=assets-cash), $m49986NaN
Average production assets, $m5069NaN
Working capital, $m-1414NaN
Total debt, $m21349NaN
Total liabilities, $m34662NaN
Total equity, $m17944NaN
Debt-to-equity ratio1.190NaN
Adjusted equity ratio0.338NaN

CASH FLOW

Net income, $m2303NaN
Depreciation, amort., depletion, $m717NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m3092NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-2727NaN
Free cash flow, $m5819NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-1414
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN

Company description

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages. The company also provides access to movies and television shows through TV or Internet-connected devices; and dishanywhere.com and mobile applications on Internet-connected devices to view authorized content, search program listings, and remotely control certain features of their DVRs. In addition, it offers Sling TV services, including Sling domestic, Sling International, Sling Latino, Sling Orange, and Sling Blue services that require an internet connection and are available on streaming-capable devices, such as streaming media devices, TVs, tablets, computers, game consoles, and phones, as well as market SLING TV services to consumers who do not subscribe to traditional satellite and cable pay-TV services. Further, the company provides wireless subscribers consumer plans with no annual service contracts, as well as monthly service plans, including high-speed data and unlimited talk and text. The company offers receiver systems and programming through direct sales channels, as well as independent third parties, such as small retailers, direct marketing groups, local and regional consumer electronics stores, retailers, and telecommunications companies. DISH Network Corporation was founded in 1980 and is headquartered in Englewood, Colorado.
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