Discounted Cash Flow (DCF) Analysis Levered
Assured Guaranty Ltd. (AGO)
$46.92
+0.70 (+1.51%)
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 | 988 | 921 | 1,084 | 698 | 723 | 684.84 | 648.70 | 614.46 | 582.03 | 551.32 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 462 | -509 | -853 | -1,937 | -2,479 | -969.16 | -918.01 | -869.56 | -823.67 | -780.20 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | -969.16 | -918.01 | -869.56 | -823.67 | -780.20 |
Weighted Average Cost Of Capital
Share price | $ 46.92 |
---|---|
Beta | 1.122 |
Diluted Shares Outstanding | 74.30 |
Cost of Debt | |
Tax Rate | 33.69 |
After-tax Cost of Debt | 3.21% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.674 |
Total Debt | 1,675 |
Total Equity | 3,486.16 |
Total Capital | 5,161.16 |
Debt Weighting | 32.45 |
Equity Weighting | 67.55 |
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 | 988 | 921 | 1,084 | 698 | 723 | 684.84 | 648.70 | 614.46 | 582.03 | 551.32 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 462 | -509 | -853 | -1,937 | -2,479 | -969.16 | -918.01 | -869.56 | -823.67 | -780.20 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | -969.16 | -918.01 | -869.56 | -823.67 | -780.20 |
WACC | ||||||||||
PV LFCF | -793.35 | -702.97 | -622.89 | -551.93 | -489.06 | |||||
SUM PV LFCF | -3,611.36 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.90 |
Free cash flow (t + 1) | -795.81 |
Terminal Value | -16,240.92 |
Present Value of Terminal Value | -11,633.82 |
Intrinsic Value
Enterprise Value | -15,245.17 |
---|---|
Net Debt | 1,616 |
Equity Value | -16,861.17 |
Shares Outstanding | 74.30 |
Equity Value Per Share | -226.93 |