Discounted Cash Flow (DCF) Analysis Levered
Brunswick Corporation (BC)
$78.37
-1.15 (-1.45%)
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 | 5,159.20 | 4,108.40 | 4,347.50 | 5,846.20 | 6,812.20 | 7,432.94 | 8,110.24 | 8,849.25 | 9,655.61 | 10,535.44 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 337 | 434.20 | 798.30 | 574 | 586.10 | 801.05 | 874.04 | 953.68 | 1,040.58 | 1,135.40 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -193.40 | -232.60 | -182.40 | -267.10 | -388.30 | -354.92 | -387.26 | -422.54 | -461.05 | -503.06 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 143.60 | 201.60 | 615.90 | 306.90 | 197.80 | 446.13 | 486.78 | 531.14 | 579.54 | 632.34 |
Weighted Average Cost Of Capital
| Share price | $ 78.37 |
|---|---|
| Beta | 1.560 |
| Diluted Shares Outstanding | 78.40 |
| Cost of Debt | |
| Tax Rate | 20.69 |
| After-tax Cost of Debt | 3.10% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.920 |
| Total Debt | 2,509 |
| Total Equity | 6,144.21 |
| Total Capital | 8,653.21 |
| Debt Weighting | 29.00 |
| Equity Weighting | 71.00 |
| 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 | 5,159.20 | 4,108.40 | 4,347.50 | 5,846.20 | 6,812.20 | 7,432.94 | 8,110.24 | 8,849.25 | 9,655.61 | 10,535.44 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 337 | 434.20 | 798.30 | 574 | 586.10 | 801.05 | 874.04 | 953.68 | 1,040.58 | 1,135.40 |
| Capital Expenditure | -193.40 | -232.60 | -182.40 | -267.10 | -388.30 | -354.92 | -387.26 | -422.54 | -461.05 | -503.06 |
| Free Cash Flow | 143.60 | 201.60 | 615.90 | 306.90 | 197.80 | 446.13 | 486.78 | 531.14 | 579.54 | 632.34 |
| WACC | ||||||||||
| PV LFCF | 260.80 | 260.21 | 259.62 | 259.03 | 258.45 | |||||
| SUM PV LFCF | 2,030.51 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.36 |
| Free cash flow (t + 1) | 644.99 |
| Terminal Value | 8,763.46 |
| Present Value of Terminal Value | 5,602.52 |
Intrinsic Value
| Enterprise Value | 7,633.02 |
|---|---|
| Net Debt | 1,913.40 |
| Equity Value | 5,719.62 |
| Shares Outstanding | 78.40 |
| Equity Value Per Share | 72.95 |