Discounted Cash Flow (DCF) Analysis Levered

Brookfield Asset Management Inc. (BAM)

$41.52

-0.06 (-0.14%)
All numbers are in Millions, Currency in USD
Stock DCF: 307.61 | 41.52 | undervalue

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 2,223.522,2512,7883,6274,136.494,852.445,692.316,677.547,833.299,189.09
Revenue (%)
Operating Cash Flow 848.271,7861,443-37428.511,549.171,817.302,131.842,500.822,933.67
Operating Cash Flow (%)
Capital Expenditure -1.02-20-35-13-26.35-30.91-36.26-42.54-49.90-58.54
Capital Expenditure (%)
Free Cash Flow 847.251,7661,408-3872.161,518.261,781.042,089.302,450.922,875.13

Weighted Average Cost Of Capital

Share price $ 41.52
Beta 0.000
Diluted Shares Outstanding 390.06
Cost of Debt
Tax Rate 16.33
After-tax Cost of Debt 4.18%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.210
Total Debt -
Total Equity 16,195.49
Total Capital 16,195.49
Debt Weighting 0.00
Equity Weighting 100.00
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 2,223.522,2512,7883,6274,136.494,852.445,692.316,677.547,833.299,189.09
Operating Cash Flow 848.271,7861,443-37428.511,549.171,817.302,131.842,500.822,933.67
Capital Expenditure -1.02-20-35-13-26.35-30.91-36.26-42.54-49.90-58.54
Free Cash Flow 847.251,7661,408-3872.161,518.261,781.042,089.302,450.922,875.13
WACC
PV LFCF 1,185.461,334.461,502.191,6911,903.54
SUM PV LFCF 9,360.78

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.21
Free cash flow (t + 1) 2,932.63
Terminal Value 132,698.18
Present Value of Terminal Value 107,973.70

Intrinsic Value

Enterprise Value 117,334.48
Net Debt -2,653.35
Equity Value 119,987.83
Shares Outstanding 390.06
Equity Value Per Share 307.61