Discounted Cash Flow (DCF) Analysis Levered
ADT Inc. (ADT)
$7.03
-0.14 (-1.95%)
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 | 4,581.67 | 5,125.66 | 5,314.79 | 5,307 | 38,000 | 97,987.92 | 252,674.55 | 651,554.07 | 1,680,116.57 | 4,332,398.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,787.61 | 1,873.12 | 1,366.75 | 1,650 | 1,888 | 26,914.50 | 69,402.53 | 178,963.41 | 461,480.34 | 1,189,986.84 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -703.09 | -701.15 | -575.55 | -168 | -177 | -8,522.11 | -21,975.35 | -56,666.30 | -146,121.38 | -376,792.92 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,084.52 | 1,171.97 | 791.20 | 1,482 | 1,711 | 18,392.40 | 47,427.18 | 122,297.12 | 315,358.96 | 813,193.92 |
Weighted Average Cost Of Capital
| Share price | $ 7.03 |
|---|---|
| Beta | 1.748 |
| Diluted Shares Outstanding | 778 |
| Cost of Debt | |
| Tax Rate | 95.24 |
| After-tax Cost of Debt | 128.39% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.751 |
| Total Debt | 9,829 |
| Total Equity | 5,469.34 |
| Total Capital | 15,298.34 |
| Debt Weighting | 64.25 |
| Equity Weighting | 35.75 |
| 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 | 4,581.67 | 5,125.66 | 5,314.79 | 5,307 | 38,000 | 97,987.92 | 252,674.55 | 651,554.07 | 1,680,116.57 | 4,332,398.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,787.61 | 1,873.12 | 1,366.75 | 1,650 | 1,888 | 26,914.50 | 69,402.53 | 178,963.41 | 461,480.34 | 1,189,986.84 |
| Capital Expenditure | -703.09 | -701.15 | -575.55 | -168 | -177 | -8,522.11 | -21,975.35 | -56,666.30 | -146,121.38 | -376,792.92 |
| Free Cash Flow | 1,084.52 | 1,171.97 | 791.20 | 1,482 | 1,711 | 18,392.40 | 47,427.18 | 122,297.12 | 315,358.96 | 813,193.92 |
| WACC | ||||||||||
| PV LFCF | 9,851.84 | 13,607.71 | 18,795.46 | 25,960.97 | 35,858.23 | |||||
| SUM PV LFCF | 104,074.22 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 86.69 |
| Free cash flow (t + 1) | 829,457.80 |
| Terminal Value | 979,404.65 |
| Present Value of Terminal Value | 43,187.38 |
Intrinsic Value
| Enterprise Value | 147,261.60 |
|---|---|
| Net Debt | 9,572 |
| Equity Value | 137,689.60 |
| Shares Outstanding | 778 |
| Equity Value Per Share | 176.98 |