Discounted Cash Flow (DCF) Analysis Levered
Accenture plc (ACN)
$280.65
+3.00 (+1.08%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 36,176.84 | 40,992.53 | 43,215.01 | 44,327.04 | 50,533.39 | 54,993.94 | 59,848.21 | 65,130.97 | 70,880.03 | 77,136.57 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 4,973.04 | 6,026.69 | 6,626.95 | 8,215.15 | 8,975.15 | 8,807.51 | 9,584.94 | 10,431 | 11,351.74 | 12,353.75 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -515.92 | -619.19 | -599.01 | -599.13 | -580.13 | -750.37 | -816.61 | -888.69 | -967.14 | -1,052.50 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 4,457.12 | 5,407.50 | 6,027.94 | 7,616.02 | 8,395.02 | 8,057.14 | 8,768.33 | 9,542.31 | 10,384.60 | 11,301.24 |
Weighted Average Cost Of Capital
Share price | $ 280.65 |
---|---|
Beta | 1.240 |
Diluted Shares Outstanding | 645.91 |
Cost of Debt | |
Tax Rate | 23.89 |
After-tax Cost of Debt | 1.29% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.744 |
Total Debt | 3,506.63 |
Total Equity | 181,274.37 |
Total Capital | 184,781.01 |
Debt Weighting | 1.90 |
Equity Weighting | 98.10 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 36,176.84 | 40,992.53 | 43,215.01 | 44,327.04 | 50,533.39 | 54,993.94 | 59,848.21 | 65,130.97 | 70,880.03 | 77,136.57 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 4,973.04 | 6,026.69 | 6,626.95 | 8,215.15 | 8,975.15 | 8,807.51 | 9,584.94 | 10,431 | 11,351.74 | 12,353.75 |
Capital Expenditure | -515.92 | -619.19 | -599.01 | -599.13 | -580.13 | -750.37 | -816.61 | -888.69 | -967.14 | -1,052.50 |
Free Cash Flow | 4,457.12 | 5,407.50 | 6,027.94 | 7,616.02 | 8,395.02 | 8,057.14 | 8,768.33 | 9,542.31 | 10,384.60 | 11,301.24 |
WACC | ||||||||||
PV LFCF | 7,419.09 | 7,434.60 | 7,450.13 | 7,465.70 | 7,481.30 | |||||
SUM PV LFCF | 37,250.82 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.60 |
Free cash flow (t + 1) | 11,527.27 |
Terminal Value | 174,655.57 |
Present Value of Terminal Value | 115,620.09 |
Intrinsic Value
Enterprise Value | 152,870.92 |
---|---|
Net Debt | -4,661.54 |
Equity Value | 157,532.46 |
Shares Outstanding | 645.91 |
Equity Value Per Share | 243.89 |