Discounted Cash Flow (DCF) Analysis Levered

APi Group Corporation (APG)

$34.65

-0.27 (-0.77%)
All numbers are in Millions, Currency in USD
Stock DCF: 214.00 | 34.65 | 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 3,7289853,5873,9406,55810,933.3718,227.8830,389.1650,664.1984,466.32
Revenue (%)
Operating Cash Flow 112150496182270892.091,487.282,479.564,133.886,891.92
Operating Cash Flow (%)
Capital Expenditure -74-11-38-55-79-147.86-246.50-410.96-685.15-1,142.27
Capital Expenditure (%)
Free Cash Flow 38139458127191744.241,240.782,068.603,448.735,749.65

Weighted Average Cost Of Capital

Share price $ 34.65
Beta 1.750
Diluted Shares Outstanding 266
Cost of Debt
Tax Rate 21.51
After-tax Cost of Debt 3.34%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.511
Total Debt 3,028
Total Equity 9,216.90
Total Capital 12,244.90
Debt Weighting 24.73
Equity Weighting 75.27
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 3,7289853,5873,9406,55810,933.3718,227.8830,389.1650,664.1984,466.32
Operating Cash Flow 112150496182270892.091,487.282,479.564,133.886,891.92
Capital Expenditure -74-11-38-55-79-147.86-246.50-410.96-685.15-1,142.27
Free Cash Flow 38139458127191744.241,240.782,068.603,448.735,749.65
WACC
PV LFCF 675.111,020.981,544.042,335.083,531.39
SUM PV LFCF 9,106.59

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.24
Free cash flow (t + 1) 5,922.14
Terminal Value 81,797.45
Present Value of Terminal Value 50,239.32

Intrinsic Value

Enterprise Value 59,345.91
Net Debt 2,423
Equity Value 56,922.91
Shares Outstanding 266
Equity Value Per Share 214.00