Discounted Cash Flow (DCF) Analysis Levered
Accenture plc (ACN)
$311.39
+6.19 (+2.03%)
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 | 41,603.43 | 43,215.01 | 44,327.04 | 50,533.39 | 61,594.31 | 68,113.53 | 75,322.75 | 83,295.01 | 92,111.07 | 101,860.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 6,026.69 | 6,626.95 | 8,215.15 | 8,975.15 | 9,541.13 | 11,116.81 | 12,293.43 | 13,594.59 | 15,033.45 | 16,624.62 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -619.19 | -599.01 | -599.13 | -580.13 | -718 | -890.89 | -985.18 | -1,089.46 | -1,204.77 | -1,332.28 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 5,407.50 | 6,027.94 | 7,616.02 | 8,395.02 | 8,823.13 | 10,225.92 | 11,308.25 | 12,505.13 | 13,828.69 | 15,292.34 |
Weighted Average Cost Of Capital
| Share price | $ 311.39 |
|---|---|
| Beta | 1.242 |
| Diluted Shares Outstanding | 642.84 |
| Cost of Debt | |
| Tax Rate | 25.22 |
| After-tax Cost of Debt | 1.06% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.552 |
| Total Debt | 3,325.76 |
| Total Equity | 200,173.69 |
| Total Capital | 203,499.45 |
| Debt Weighting | 1.63 |
| Equity Weighting | 98.37 |
| 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 | 41,603.43 | 43,215.01 | 44,327.04 | 50,533.39 | 61,594.31 | 68,113.53 | 75,322.75 | 83,295.01 | 92,111.07 | 101,860.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 6,026.69 | 6,626.95 | 8,215.15 | 8,975.15 | 9,541.13 | 11,116.81 | 12,293.43 | 13,594.59 | 15,033.45 | 16,624.62 |
| Capital Expenditure | -619.19 | -599.01 | -599.13 | -580.13 | -718 | -890.89 | -985.18 | -1,089.46 | -1,204.77 | -1,332.28 |
| Free Cash Flow | 5,407.50 | 6,027.94 | 7,616.02 | 8,395.02 | 8,823.13 | 10,225.92 | 11,308.25 | 12,505.13 | 13,828.69 | 15,292.34 |
| WACC | ||||||||||
| PV LFCF | 9,346.43 | 9,446.73 | 9,548.10 | 9,650.57 | 9,754.13 | |||||
| SUM PV LFCF | 47,745.96 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.41 |
| Free cash flow (t + 1) | 15,598.18 |
| Terminal Value | 210,501.78 |
| Present Value of Terminal Value | 134,267.43 |
Intrinsic Value
| Enterprise Value | 182,013.39 |
|---|---|
| Net Debt | -4,564.08 |
| Equity Value | 186,577.47 |
| Shares Outstanding | 642.84 |
| Equity Value Per Share | 290.24 |