Discounted Cash Flow (DCF) Analysis Levered
The Boeing Company (BA)
$218.025
-0.09 (-0.04%)
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 | 101,127 | 76,559 | 58,158 | 62,286 | 66,608 | 60,897.63 | 55,676.82 | 50,903.59 | 46,539.57 | 42,549.69 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 15,322 | -2,446 | -18,410 | -3,416 | 3,512 | -2,425.01 | -2,217.11 | -2,027.04 | -1,853.26 | -1,694.38 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1,791 | -1,961 | -1,303 | -980 | -1,222 | -1,215.63 | -1,111.41 | -1,016.13 | -929.02 | -849.37 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 13,531 | -4,407 | -19,713 | -4,396 | 2,290 | -3,640.64 | -3,328.52 | -3,043.17 | -2,782.27 | -2,543.75 |
Weighted Average Cost Of Capital
| Share price | $ 218.025 |
|---|---|
| Beta | 1.428 |
| Diluted Shares Outstanding | 569 |
| Cost of Debt | |
| Tax Rate | 1.73 |
| After-tax Cost of Debt | 4.34% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.508 |
| Total Debt | 57,277 |
| Total Equity | 124,056.23 |
| Total Capital | 181,333.23 |
| Debt Weighting | 31.59 |
| Equity Weighting | 68.41 |
| 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 | 101,127 | 76,559 | 58,158 | 62,286 | 66,608 | 60,897.63 | 55,676.82 | 50,903.59 | 46,539.57 | 42,549.69 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 15,322 | -2,446 | -18,410 | -3,416 | 3,512 | -2,425.01 | -2,217.11 | -2,027.04 | -1,853.26 | -1,694.38 |
| Capital Expenditure | -1,791 | -1,961 | -1,303 | -980 | -1,222 | -1,215.63 | -1,111.41 | -1,016.13 | -929.02 | -849.37 |
| Free Cash Flow | 13,531 | -4,407 | -19,713 | -4,396 | 2,290 | -3,640.64 | -3,328.52 | -3,043.17 | -2,782.27 | -2,543.75 |
| WACC | ||||||||||
| PV LFCF | -3,353.57 | -2,824.31 | -2,378.57 | -2,003.18 | -1,687.04 | |||||
| SUM PV LFCF | -12,246.67 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.56 |
| Free cash flow (t + 1) | -2,594.62 |
| Terminal Value | -39,552.15 |
| Present Value of Terminal Value | -26,231.37 |
Intrinsic Value
| Enterprise Value | -38,478.04 |
|---|---|
| Net Debt | 42,663 |
| Equity Value | -81,141.04 |
| Shares Outstanding | 569 |
| Equity Value Per Share | -142.60 |