Discounted Cash Flow (DCF) Analysis Levered
Axalta Coating Systems Ltd. (AXTA)
$29.85
+0.21 (+0.71%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 3,737.60 | 4,416.20 | 4,884.40 | 5,586.73 | 6,390.04 | 7,308.86 | 8,359.80 | 9,561.85 | 10,936.74 |
---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||
Operating Cash Flow | 509.30 | 558.60 | 293.80 | 601.32 | 687.79 | 786.69 | 899.80 | 1,029.18 | 1,177.17 |
Operating Cash Flow (%) | |||||||||
Capital Expenditure | -82.10 | -121.60 | -150.90 | -149.72 | -171.24 | -195.87 | -224.03 | -256.24 | -293.09 |
Capital Expenditure (%) | |||||||||
Free Cash Flow | 427.20 | 437 | 142.90 | 451.61 | 516.55 | 590.82 | 675.77 | 772.94 | 884.08 |
Weighted Average Cost Of Capital
Share price | $ 29.85 |
---|---|
Beta | 1.430 |
Diluted Shares Outstanding | 236 |
Cost of Debt | |
Tax Rate | 100.00 |
After-tax Cost of Debt | 0.00% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.559 |
Total Debt | 3,647.10 |
Total Equity | 7,044.60 |
Total Capital | 10,691.70 |
Debt Weighting | 34.11 |
Equity Weighting | 65.89 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 3,737.60 | 4,416.20 | 4,884.40 | 5,586.73 | 6,390.04 | 7,308.86 | 8,359.80 | 9,561.85 | 10,936.74 |
---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 509.30 | 558.60 | 293.80 | 601.32 | 687.79 | 786.69 | 899.80 | 1,029.18 | 1,177.17 |
Capital Expenditure | -82.10 | -121.60 | -150.90 | -149.72 | -171.24 | -195.87 | -224.03 | -256.24 | -293.09 |
Free Cash Flow | 427.20 | 437 | 142.90 | 451.61 | 516.55 | 590.82 | 675.77 | 772.94 | 884.08 |
WACC | |||||||||
PV LFCF | 483.04 | 516.55 | 552.37 | 590.69 | 631.66 | 675.47 | |||
SUM PV LFCF | 2,773.69 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.96 |
Free cash flow (t + 1) | 901.76 |
Terminal Value | 18,180.74 |
Present Value of Terminal Value | 12,986.88 |
Intrinsic Value
Enterprise Value | 15,760.57 |
---|---|
Net Debt | 3,135 |
Equity Value | 12,625.57 |
Shares Outstanding | 236 |
Equity Value Per Share | 53.50 |