Discounted Cash Flow (DCF) Analysis Levered

AXIS Capital Holdings Limited (AXS)

$52.96

-0.40 (-0.75%)
All numbers are in Millions, Currency in USD
Stock DCF: 90.51 | 52.96 | 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 5,119.575,185.474,761.215,321.404,859.444,813.154,767.304,721.904,676.924,632.37
Revenue (%)
Operating Cash Flow 10.77199343.501,114.82692.22447.21442.95438.73434.55430.42
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----447.21442.95438.73434.55430.42

Weighted Average Cost Of Capital

Share price $ 52.96
Beta 0.846
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 7.684
Total Debt 1,496.28
Total Equity 4,537.03
Total Capital 6,033.31
Debt Weighting 24.80
Equity Weighting 75.20
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 5,119.575,185.474,761.215,321.404,859.444,813.154,767.304,721.904,676.924,632.37
Operating Cash Flow 10.77199343.501,114.82692.22447.21442.95438.73434.55430.42
Capital Expenditure ----------
Free Cash Flow -----447.21442.95438.73434.55430.42
WACC
PV LFCF 418.97388.78360.76334.76310.64
SUM PV LFCF 1,813.91

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.74
Free cash flow (t + 1) 439.02
Terminal Value 9,262.10
Present Value of Terminal Value 6,684.57

Intrinsic Value

Enterprise Value 8,498.48
Net Debt 744.86
Equity Value 7,753.62
Shares Outstanding 85.67
Equity Value Per Share 90.51