Discounted Cash Flow (DCF) Analysis Levered
AerCap Holdings N.V. (AER)
$59.59
-0.41 (-0.68%)
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 | 4,799.98 | 4,937.34 | 4,493.63 | 4,588.93 | 6,914.99 | 7,722.03 | 8,623.27 | 9,629.70 | 10,753.58 | 12,008.63 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 2,840.37 | 3,105.68 | 2,130.38 | 3,693.82 | 5,170.96 | 5,015.60 | 5,600.97 | 6,254.66 | 6,984.64 | 7,799.82 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -5,948.41 | -4,728.49 | -1,183.73 | -1,789.78 | -3,871.57 | -5,266.86 | -5,881.56 | -6,568 | -7,334.55 | -8,190.57 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -3,108.04 | -1,622.81 | 946.66 | 1,904.04 | 1,299.39 | -251.27 | -280.59 | -313.34 | -349.91 | -390.75 |
Weighted Average Cost Of Capital
Share price | $ 59.59 |
---|---|
Beta | 1.995 |
Diluted Shares Outstanding | 149.01 |
Cost of Debt | |
Tax Rate | 27.57 |
After-tax Cost of Debt | 3.62% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 13.163 |
Total Debt | 46,668.18 |
Total Equity | 8,879.27 |
Total Capital | 55,547.44 |
Debt Weighting | 84.01 |
Equity Weighting | 15.99 |
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 | 4,799.98 | 4,937.34 | 4,493.63 | 4,588.93 | 6,914.99 | 7,722.03 | 8,623.27 | 9,629.70 | 10,753.58 | 12,008.63 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 2,840.37 | 3,105.68 | 2,130.38 | 3,693.82 | 5,170.96 | 5,015.60 | 5,600.97 | 6,254.66 | 6,984.64 | 7,799.82 |
Capital Expenditure | -5,948.41 | -4,728.49 | -1,183.73 | -1,789.78 | -3,871.57 | -5,266.86 | -5,881.56 | -6,568 | -7,334.55 | -8,190.57 |
Free Cash Flow | -3,108.04 | -1,622.81 | 946.66 | 1,904.04 | 1,299.39 | -251.27 | -280.59 | -313.34 | -349.91 | -390.75 |
WACC | ||||||||||
PV LFCF | -216.13 | -229.53 | -243.76 | -258.88 | -274.94 | |||||
SUM PV LFCF | -1,352.48 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.15 |
Free cash flow (t + 1) | -398.56 |
Terminal Value | -12,652.81 |
Present Value of Terminal Value | -9,843.30 |
Intrinsic Value
Enterprise Value | -11,195.78 |
---|---|
Net Debt | 45,071.03 |
Equity Value | -56,266.81 |
Shares Outstanding | 149.01 |
Equity Value Per Share | -377.61 |