Discounted Cash Flow (DCF) Analysis Levered
The Boeing Company (BA)
$124.05
-3.15 (-2.48%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 93,392 | 101,127 | 76,559 | 58,158 | 62,286 | 57,155.34 | 52,447.30 | 48,127.08 | 44,162.72 | 40,524.92 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 13,344 | 15,322 | -2,446 | -18,410 | -3,416 | -1,245.42 | -1,142.83 | -1,048.69 | -962.31 | -883.04 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1,870 | -1,791 | -1,961 | -1,303 | -980 | -1,160.09 | -1,064.53 | -976.85 | -896.38 | -822.54 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 11,474 | 13,531 | -4,407 | -19,713 | -4,396 | -2,405.51 | -2,207.37 | -2,025.54 | -1,858.69 | -1,705.58 |
Weighted Average Cost Of Capital
| Share price | $ 124.05 |
|---|---|
| Beta | 1.406 |
| Diluted Shares Outstanding | 569 |
| Cost of Debt | |
| Tax Rate | 16.51 |
| After-tax Cost of Debt | 3.83% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.513 |
| Total Debt | 58,370 |
| Total Equity | 70,584.45 |
| Total Capital | 128,954.45 |
| Debt Weighting | 45.26 |
| Equity Weighting | 54.74 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 93,392 | 101,127 | 76,559 | 58,158 | 62,286 | 57,155.34 | 52,447.30 | 48,127.08 | 44,162.72 | 40,524.92 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 13,344 | 15,322 | -2,446 | -18,410 | -3,416 | -1,245.42 | -1,142.83 | -1,048.69 | -962.31 | -883.04 |
| Capital Expenditure | -1,870 | -1,791 | -1,961 | -1,303 | -980 | -1,160.09 | -1,064.53 | -976.85 | -896.38 | -822.54 |
| Free Cash Flow | 11,474 | 13,531 | -4,407 | -19,713 | -4,396 | -2,405.51 | -2,207.37 | -2,025.54 | -1,858.69 | -1,705.58 |
| WACC | ||||||||||
| PV LFCF | -2,249.41 | -1,930.16 | -1,656.23 | -1,421.17 | -1,219.47 | |||||
| SUM PV LFCF | -8,476.44 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.94 |
| Free cash flow (t + 1) | -1,739.70 |
| Terminal Value | -35,216.52 |
| Present Value of Terminal Value | -25,179.41 |
Intrinsic Value
| Enterprise Value | -33,655.85 |
|---|---|
| Net Debt | 50,318 |
| Equity Value | -83,973.85 |
| Shares Outstanding | 569 |
| Equity Value Per Share | -147.58 |