Discounted Cash Flow (DCF) Analysis Levered

Embotelladora Andina S.A. (AKO-A)

$12.4271

-0.67 (-5.14%)
All numbers are in Millions, Currency in USD
Stock DCF: 55,757.24 | 12.4271 | undervalue

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 1,672,915.801,779,025.121,698,281.232,216,732.602,656,8783,003,518.993,395,385.983,838,379.574,339,170.234,905,298.69
Revenue (%)
Operating Cash Flow ----------
Operating Cash Flow (%)
Capital Expenditure -121,063.28-111,131.57-86,082.85-144,027.30-166,383.88-188,091.86-212,632.07-240,374.03-271,735.46-307,188.59
Capital Expenditure (%)
Free Cash Flow -----166,383.88-188,091.86-212,632.07-240,374.03-271,735.46-307,188.59

Weighted Average Cost Of Capital

Share price $ 12.4,271
Beta 0.330
Diluted Shares Outstanding 157.77
Cost of Debt
Tax Rate 46.09
After-tax Cost of Debt -0.95%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.088
Total Debt 1,118,191
Total Equity 1,960.58
Total Capital 1,120,151.58
Debt Weighting 99.82
Equity Weighting 0.18
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 1,672,915.801,779,025.121,698,281.232,216,732.602,656,8783,003,518.993,395,385.983,838,379.574,339,170.234,905,298.69
Operating Cash Flow ----------
Capital Expenditure -121,063.28-111,131.57-86,082.85-144,027.30-166,383.88-188,091.86-212,632.07-240,374.03-271,735.46-307,188.59
Free Cash Flow -----166,383.88-188,091.86-212,632.07-240,374.03-271,735.46-307,188.59
WACC
PV LFCF -189,876.70-216,686.64-247,282.04-282,197.41-322,042.70
SUM PV LFCF -1,258,085.49

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -0.94
Free cash flow (t + 1) -313,332.36
Terminal Value 10,657,563.37
Present Value of Terminal Value 11,172,910.13

Intrinsic Value

Enterprise Value 9,914,824.64
Net Debt 1,118,191
Equity Value 8,796,633.64
Shares Outstanding 157.77
Equity Value Per Share 55,757.24