Discounted Cash Flow (DCF) Analysis Levered
BlackBerry Limited (BB)
$6.57
+0.50 (+8.24%)
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 | 932 | 904 | 1,040 | 893 | 718 | 679.06 | 642.24 | 607.41 | 574.47 | 543.32 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 704 | 100 | 26 | 82 | -28 | 128.18 | 121.23 | 114.66 | 108.44 | 102.56 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -45 | -49 | -44 | -44 | -39 | -33.73 | -31.90 | -30.17 | -28.54 | -26.99 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 659 | 51 | -18 | 38 | -67 | 94.45 | 89.33 | 84.48 | 79.90 | 75.57 |
Weighted Average Cost Of Capital
| Share price | $ 6.57 |
|---|---|
| Beta | 1.224 |
| Diluted Shares Outstanding | 631.44 |
| Cost of Debt | |
| Tax Rate | 36.84 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.520 |
| Total Debt | 601 |
| Total Equity | 4,148.56 |
| Total Capital | 4,749.56 |
| Debt Weighting | 12.65 |
| Equity Weighting | 87.35 |
| 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 | 932 | 904 | 1,040 | 893 | 718 | 679.06 | 642.24 | 607.41 | 574.47 | 543.32 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 704 | 100 | 26 | 82 | -28 | 128.18 | 121.23 | 114.66 | 108.44 | 102.56 |
| Capital Expenditure | -45 | -49 | -44 | -44 | -39 | -33.73 | -31.90 | -30.17 | -28.54 | -26.99 |
| Free Cash Flow | 659 | 51 | -18 | 38 | -67 | 94.45 | 89.33 | 84.48 | 79.90 | 75.57 |
| WACC | ||||||||||
| PV LFCF | - | - | - | - | - | |||||
| SUM PV LFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | 77.08 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | 223 |
| Equity Value | - |
| Shares Outstanding | 631.44 |
| Equity Value Per Share | - |