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 |