Discounted Cash Flow (DCF) Analysis Levered
Ball Corporation (BALL)
$64.78
+0.70 (+1.09%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 11,474 | 11,781 | 13,811 | 15,349 | 14,029 | 14,816.13 | 15,647.42 | 16,525.35 | 17,452.55 | 18,431.76 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,548 | 1,432 | 1,760 | 283 | 1,863 | 1,585.72 | 1,674.69 | 1,768.66 | 1,867.89 | 1,972.69 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -598 | -1,113 | -1,726 | -1,651 | -1,045 | -1,344.17 | -1,419.59 | -1,499.24 | -1,583.36 | -1,672.19 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 950 | 319 | 34 | -1,368 | 818 | 241.55 | 255.11 | 269.42 | 284.53 | 300.50 |
Weighted Average Cost Of Capital
Share price | $ 64.78 |
---|---|
Beta | 0.892 |
Diluted Shares Outstanding | 317.02 |
Cost of Debt | |
Tax Rate | 15.23 |
After-tax Cost of Debt | 3.69% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.566 |
Total Debt | 8,569 |
Total Equity | 20,536.69 |
Total Capital | 29,105.69 |
Debt Weighting | 29.44 |
Equity Weighting | 70.56 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 11,474 | 11,781 | 13,811 | 15,349 | 14,029 | 14,816.13 | 15,647.42 | 16,525.35 | 17,452.55 | 18,431.76 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,548 | 1,432 | 1,760 | 283 | 1,863 | 1,585.72 | 1,674.69 | 1,768.66 | 1,867.89 | 1,972.69 |
Capital Expenditure | -598 | -1,113 | -1,726 | -1,651 | -1,045 | -1,344.17 | -1,419.59 | -1,499.24 | -1,583.36 | -1,672.19 |
Free Cash Flow | 950 | 319 | 34 | -1,368 | 818 | 241.55 | 255.11 | 269.42 | 284.53 | 300.50 |
WACC | ||||||||||
PV LFCF | 225.48 | 222.28 | 219.13 | 216.02 | 212.95 | |||||
SUM PV LFCF | 1,095.85 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.13 |
Free cash flow (t + 1) | 311.02 |
Terminal Value | 8,567.95 |
Present Value of Terminal Value | 6,071.85 |
Intrinsic Value
Enterprise Value | 7,167.71 |
---|---|
Net Debt | 7,874 |
Equity Value | -706.29 |
Shares Outstanding | 317.02 |
Equity Value Per Share | -2.23 |