Discounted Cash Flow (DCF) Analysis Levered
AXIS Capital Holdings Limited (AXS)
$57.5389
+0.36 (+0.63%)
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 | 5,119.57 | 5,185.47 | 4,760.89 | 5,321.41 | 433.95 | 339.59 | 265.76 | 207.97 | 162.75 | 127.36 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 10.77 | 199 | 343.50 | 1,114.82 | 692.22 | 130.22 | 101.91 | 79.75 | 62.41 | 48.84 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 130.22 | 101.91 | 79.75 | 62.41 | 48.84 |
Weighted Average Cost Of Capital
Share price | $ 57.5,389 |
---|---|
Beta | 0.847 |
Diluted Shares Outstanding | 85.67 |
Cost of Debt | |
Tax Rate | 8.24 |
After-tax Cost of Debt | 3.87% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.638 |
Total Debt | 1,496.28 |
Total Equity | 4,929.30 |
Total Capital | 6,425.58 |
Debt Weighting | 23.29 |
Equity Weighting | 76.71 |
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 | 5,119.57 | 5,185.47 | 4,760.89 | 5,321.41 | 433.95 | 339.59 | 265.76 | 207.97 | 162.75 | 127.36 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 10.77 | 199 | 343.50 | 1,114.82 | 692.22 | 130.22 | 101.91 | 79.75 | 62.41 | 48.84 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 130.22 | 101.91 | 79.75 | 62.41 | 48.84 |
WACC | ||||||||||
PV LFCF | 121.10 | 88.13 | 64.14 | 46.68 | 33.97 | |||||
SUM PV LFCF | 354.03 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.53 |
Free cash flow (t + 1) | 49.82 |
Terminal Value | 900.83 |
Present Value of Terminal Value | 626.61 |
Intrinsic Value
Enterprise Value | 980.63 |
---|---|
Net Debt | 744.86 |
Equity Value | 235.77 |
Shares Outstanding | 85.67 |
Equity Value Per Share | 2.75 |