Discounted Cash Flow (DCF) Analysis Levered
Banco Bilbao Vizcaya Argentaria, S.... (BBVA)
$11.29
-0.10 (-0.88%)
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 | 18,336 | 15,235 | 18,015 | 21,435 | 29,542 | 33,835.99 | 38,754.13 | 44,387.13 | 50,838.89 | 58,228.44 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -8,214 | 39,349 | -1,242 | 23,718 | 77,163 | 39,144 | 44,833.67 | 51,350.34 | 58,814.23 | 67,363 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1,380 | -1,123 | -946 | -2,442 | -1,819 | -2,551.13 | -2,921.94 | -3,346.65 | -3,833.10 | -4,390.24 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -9,594 | 38,226 | -2,188 | 21,276 | 75,344 | 36,592.87 | 41,911.73 | 48,003.69 | 54,981.13 | 62,972.76 |
Weighted Average Cost Of Capital
Share price | $ 11.29 |
---|---|
Beta | 1.463 |
Diluted Shares Outstanding | 6,216.28 |
Cost of Debt | |
Tax Rate | 35.43 |
After-tax Cost of Debt | 3.23% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.261 |
Total Debt | 68,707 |
Total Equity | 70,181.79 |
Total Capital | 138,888.79 |
Debt Weighting | 49.47 |
Equity Weighting | 50.53 |
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 | 18,336 | 15,235 | 18,015 | 21,435 | 29,542 | 33,835.99 | 38,754.13 | 44,387.13 | 50,838.89 | 58,228.44 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -8,214 | 39,349 | -1,242 | 23,718 | 77,163 | 39,144 | 44,833.67 | 51,350.34 | 58,814.23 | 67,363 |
Capital Expenditure | -1,380 | -1,123 | -946 | -2,442 | -1,819 | -2,551.13 | -2,921.94 | -3,346.65 | -3,833.10 | -4,390.24 |
Free Cash Flow | -9,594 | 38,226 | -2,188 | 21,276 | 75,344 | 36,592.87 | 41,911.73 | 48,003.69 | 54,981.13 | 62,972.76 |
WACC | ||||||||||
PV LFCF | 34,106.51 | 36,409.70 | 38,868.42 | 41,493.18 | 44,295.18 | |||||
SUM PV LFCF | 195,172.98 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.29 |
Free cash flow (t + 1) | 64,232.21 |
Terminal Value | 1,214,219.51 |
Present Value of Terminal Value | 854,084.78 |
Intrinsic Value
Enterprise Value | 1,049,257.76 |
---|---|
Net Debt | -31,336 |
Equity Value | 1,080,593.76 |
Shares Outstanding | 6,216.28 |
Equity Value Per Share | 173.83 |