Discounted Cash Flow (DCF) Analysis Levered
Agilent Technologies, Inc. (A)
$111.82
-0.18 (-0.16%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 4,914 | 5,163 | 5,339 | 6,319 | 6,848 | 7,450.68 | 8,106.39 | 8,819.82 | 9,596.03 | 10,440.56 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,087 | 1,021 | 921 | 1,485 | 1,312 | 1,517.04 | 1,650.55 | 1,795.82 | 1,953.86 | 2,125.82 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -177 | -156 | -119 | -189 | -291 | -239.80 | -260.91 | -283.87 | -308.85 | -336.03 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 910 | 865 | 802 | 1,296 | 1,021 | 1,277.24 | 1,389.65 | 1,511.95 | 1,645.01 | 1,789.78 |
Weighted Average Cost Of Capital
Share price | $ 111.82 |
---|---|
Beta | 1.026 |
Diluted Shares Outstanding | 300 |
Cost of Debt | |
Tax Rate | 16.62 |
After-tax Cost of Debt | 2.53% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.417 |
Total Debt | 2,769 |
Total Equity | 33,546 |
Total Capital | 36,315 |
Debt Weighting | 7.62 |
Equity Weighting | 92.38 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 4,914 | 5,163 | 5,339 | 6,319 | 6,848 | 7,450.68 | 8,106.39 | 8,819.82 | 9,596.03 | 10,440.56 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,087 | 1,021 | 921 | 1,485 | 1,312 | 1,517.04 | 1,650.55 | 1,795.82 | 1,953.86 | 2,125.82 |
Capital Expenditure | -177 | -156 | -119 | -189 | -291 | -239.80 | -260.91 | -283.87 | -308.85 | -336.03 |
Free Cash Flow | 910 | 865 | 802 | 1,296 | 1,021 | 1,277.24 | 1,389.65 | 1,511.95 | 1,645.01 | 1,789.78 |
WACC | ||||||||||
PV LFCF | 1,172.96 | 1,172 | 1,171.04 | 1,170.08 | 1,169.12 | |||||
SUM PV LFCF | 5,855.21 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.89 |
Free cash flow (t + 1) | 1,825.58 |
Terminal Value | 26,496.04 |
Present Value of Terminal Value | 17,307.76 |
Intrinsic Value
Enterprise Value | 23,162.97 |
---|---|
Net Debt | 1,716 |
Equity Value | 21,446.97 |
Shares Outstanding | 300 |
Equity Value Per Share | 71.49 |