Discounted Cash Flow (DCF) Analysis Levered

Amcor plc (AMCR)

$10.935

+0.14 (+1.25%)

All numbers are in Millions, Currency in USD

Stock DCF: 9.71 | 10.935 | overvalue

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	9,262.26	9,458.20	12,467.50	12,861	12,861	14,450.98	16,237.54	18,244.96	20,500.55	23,035
Revenue (%)
Operating Cash Flow	-	776.10	1,384.20	1,461	0	1,107.96	1,244.93	1,398.84	1,571.78	1,766.09
Operating Cash Flow (%)
Capital Expenditure	-369.83	-332.20	-399.50	-468	-0	-414.70	-465.97	-523.57	-588.30	-661.03
Capital Expenditure (%)
Free Cash Flow	-369.83	443.90	984.70	993	0	693.26	778.97	875.27	983.48	1,105.06

Weighted Average Cost Of Capital

Share price	$ 10.935
Beta	0.825
Diluted Shares Outstanding	1,556
Cost of Debt
Tax Rate	21.29
After-tax Cost of Debt	72,937,133.28%
Risk-Free Rate
Market Risk Premium
Cost of Equity	7.795
Total Debt	0
Total Equity	17,014.86
Total Capital	17,014.86
Debt Weighting	0.00
Equity Weighting	100.00
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	9,262.26	9,458.20	12,467.50	12,861	12,861	14,450.98	16,237.54	18,244.96	20,500.55	23,035
Operating Cash Flow	-	776.10	1,384.20	1,461	0	1,107.96	1,244.93	1,398.84	1,571.78	1,766.09
Capital Expenditure	-369.83	-332.20	-399.50	-468	-0	-414.70	-465.97	-523.57	-588.30	-661.03
Free Cash Flow	-369.83	443.90	984.70	993	0	693.26	778.97	875.27	983.48	1,105.06
WACC
PV LFCF						639.30	662.43	686.39	711.22	736.95
SUM PV LFCF										3,436.30

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	8.44
Free cash flow (t + 1)	1,127.16
Terminal Value	17,502.52
Present Value of Terminal Value	11,672.21

Intrinsic Value

Enterprise Value	15,108.50
Net Debt	-0
Equity Value	15,108.50
Shares Outstanding	1,556
Equity Value Per Share	9.71