Discounted Cash Flow (DCF) Analysis Levered

Agilent Technologies, Inc. (A)

$132.03

+0.01 (+0.01%)
All numbers are in Millions, Currency in USD
Stock DCF: 92.13 | 132.03 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 5,1635,3396,3196,8486,8337,344.067,893.338,483.699,118.219,800.18
Revenue (%)
Operating Cash Flow 1,0219211,4851,3121,7721,551.331,667.361,792.061,926.102,070.15
Operating Cash Flow (%)
Capital Expenditure -156-119-189-291-298-247.52-266.04-285.93-307.32-330.30
Capital Expenditure (%)
Free Cash Flow 8658021,2961,0211,4741,303.811,401.321,506.131,618.781,739.85

Weighted Average Cost Of Capital

Share price $ 132.03
Beta 1.109
Diluted Shares Outstanding 296
Cost of Debt
Tax Rate 7.39
After-tax Cost of Debt 3.97%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.519
Total Debt 2,735
Total Equity 39,080.88
Total Capital 41,815.88
Debt Weighting 6.54
Equity Weighting 93.46
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 5,1635,3396,3196,8486,8337,344.067,893.338,483.699,118.219,800.18
Operating Cash Flow 1,0219211,4851,3121,7721,551.331,667.361,792.061,926.102,070.15
Capital Expenditure -156-119-189-291-298-247.52-266.04-285.93-307.32-330.30
Free Cash Flow 8658021,2961,0211,4741,303.811,401.321,506.131,618.781,739.85
WACC
PV LFCF 841.19828.24815.49802.93790.57
SUM PV LFCF 5,790.91

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.16
Free cash flow (t + 1) 1,809.44
Terminal Value 35,066.73
Present Value of Terminal Value 22,624.43

Intrinsic Value

Enterprise Value 28,415.34
Net Debt 1,145
Equity Value 27,270.34
Shares Outstanding 296
Equity Value Per Share 92.13