Discounted Cash Flow (DCF) Analysis Levered
Albemarle Corporation (ALB)
$228.125
-0.70 (-0.30%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 3,071.98 | 3,374.95 | 3,589.43 | 3,128.91 | 3,327.96 | 3,409.07 | 3,492.16 | 3,577.27 | 3,664.46 | 3,753.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 303.98 | 546.16 | 719.37 | 798.91 | 344.26 | 559.07 | 572.70 | 586.65 | 600.95 | 615.60 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -317.70 | -699.99 | -851.80 | -850.48 | -953.67 | -754.43 | -772.82 | -791.66 | -810.95 | -830.72 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -13.72 | -153.83 | -132.42 | -51.56 | -609.41 | -195.36 | -200.13 | -205 | -210 | -215.12 |
Weighted Average Cost Of Capital
| Share price | $ 228.125 |
|---|---|
| Beta | 1.560 |
| Diluted Shares Outstanding | 106.81 |
| Cost of Debt | |
| Tax Rate | 7.44 |
| After-tax Cost of Debt | 2.26% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.242 |
| Total Debt | 2,521.24 |
| Total Equity | 24,365.58 |
| Total Capital | 26,886.81 |
| Debt Weighting | 9.38 |
| Equity Weighting | 90.62 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 3,071.98 | 3,374.95 | 3,589.43 | 3,128.91 | 3,327.96 | 3,409.07 | 3,492.16 | 3,577.27 | 3,664.46 | 3,753.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 303.98 | 546.16 | 719.37 | 798.91 | 344.26 | 559.07 | 572.70 | 586.65 | 600.95 | 615.60 |
| Capital Expenditure | -317.70 | -699.99 | -851.80 | -850.48 | -953.67 | -754.43 | -772.82 | -791.66 | -810.95 | -830.72 |
| Free Cash Flow | -13.72 | -153.83 | -132.42 | -51.56 | -609.41 | -195.36 | -200.13 | -205 | -210 | -215.12 |
| WACC | ||||||||||
| PV LFCF | -178.43 | -166.94 | -156.18 | -146.12 | -136.71 | |||||
| SUM PV LFCF | -784.39 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.49 |
| Free cash flow (t + 1) | -219.42 |
| Terminal Value | -2,929.52 |
| Present Value of Terminal Value | -1,861.76 |
Intrinsic Value
| Enterprise Value | -2,646.15 |
|---|---|
| Net Debt | 2,081.96 |
| Equity Value | -4,728.12 |
| Shares Outstanding | 106.81 |
| Equity Value Per Share | -44.27 |