Discounted Cash Flow (DCF) Analysis Levered

Booz Allen Hamilton Holding Corpora... (BAH)

$96.3817

-0.52 (-0.53%)
All numbers are in Millions, Currency in USD
Stock DCF: 130.56 | 96.3817 | 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 6,171.856,704.047,463.847,858.948,363.709,025.959,740.6410,511.9111,344.2612,242.51
Revenue (%)
Operating Cash Flow 369.14499.61551.43718.68736.53699.92755.34815.15879.69949.34
Operating Cash Flow (%)
Capital Expenditure -78.44-94.68-128.08-87.21-79.96-116.70-125.95-135.92-146.68-158.29
Capital Expenditure (%)
Free Cash Flow 290.71404.93423.35631.47656.56583.21629.39679.23733.01791.05

Weighted Average Cost Of Capital

Share price $ 96.3,817
Beta 0.607
Diluted Shares Outstanding 134.85
Cost of Debt
Tax Rate 22.78
After-tax Cost of Debt 1.75%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.504
Total Debt 3,099.48
Total Equity 12,997.15
Total Capital 16,096.63
Debt Weighting 19.26
Equity Weighting 80.74
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 6,171.856,704.047,463.847,858.948,363.709,025.959,740.6410,511.9111,344.2612,242.51
Operating Cash Flow 369.14499.61551.43718.68736.53699.92755.34815.15879.69949.34
Capital Expenditure -78.44-94.68-128.08-87.21-79.96-116.70-125.95-135.92-146.68-158.29
Free Cash Flow 290.71404.93423.35631.47656.56583.21629.39679.23733.01791.05
WACC
PV LFCF 552.34564.51576.96589.68602.68
SUM PV LFCF 2,886.18

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.59
Free cash flow (t + 1) 806.87
Terminal Value 22,475.52
Present Value of Terminal Value 17,123.63

Intrinsic Value

Enterprise Value 20,009.81
Net Debt 2,403.57
Equity Value 17,606.25
Shares Outstanding 134.85
Equity Value Per Share 130.56