Discounted Cash Flow (DCF) Analysis Levered
Agilent Technologies, Inc. (A)
$123.85
+3.47 (+2.88%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 4,914 | 5,163 | 5,339 | 6,319 | 6,884.16 | 7,499.87 | 8,170.65 | 8,901.42 | 9,697.54 | 10,564.88 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,087 | 1,021 | 921 | 1,485 | 1,422.38 | 1,549.60 | 1,688.19 | 1,839.18 | 2,003.68 | 2,182.88 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -177 | -156 | -119 | -189 | -203.83 | -222.06 | -241.92 | -263.56 | -287.13 | -312.81 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 910 | 865 | 802 | 1,296 | 1,218.56 | 1,327.54 | 1,446.27 | 1,575.63 | 1,716.55 | 1,870.07 |
Weighted Average Cost Of Capital
Share price | $ 123.85 |
---|---|
Beta | 1.061 |
Diluted Shares Outstanding | 307 |
Cost of Debt | |
Tax Rate | 11.03 |
After-tax Cost of Debt | 4.45% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.763 |
Total Debt | 2,730 |
Total Equity | 38,021.95 |
Total Capital | 40,751.95 |
Debt Weighting | 6.70 |
Equity Weighting | 93.30 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 4,914 | 5,163 | 5,339 | 6,319 | 6,884.16 | 7,499.87 | 8,170.65 | 8,901.42 | 9,697.54 | 10,564.88 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,087 | 1,021 | 921 | 1,485 | 1,422.38 | 1,549.60 | 1,688.19 | 1,839.18 | 2,003.68 | 2,182.88 |
Capital Expenditure | -177 | -156 | -119 | -189 | -203.83 | -222.06 | -241.92 | -263.56 | -287.13 | -312.81 |
Free Cash Flow | 910 | 865 | 802 | 1,296 | 1,218.56 | 1,327.54 | 1,446.27 | 1,575.63 | 1,716.55 | 1,870.07 |
WACC | ||||||||||
PV LFCF | 1,218.56 | 1,234.46 | 1,250.58 | 1,266.90 | 1,283.44 | 1,300.20 | ||||
SUM PV LFCF | 6,335.58 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.54 |
Free cash flow (t + 1) | 1,907.48 |
Terminal Value | 34,430.98 |
Present Value of Terminal Value | 23,938.62 |
Intrinsic Value
Enterprise Value | 30,274.20 |
---|---|
Net Debt | 1,617 |
Equity Value | 28,657.20 |
Shares Outstanding | 307 |
Equity Value Per Share | 93.35 |