Discounted Cash Flow (DCF) Analysis Levered
Banco de Chile (BCH)
$21.72
+0.07 (+0.32%)
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 | 1,827,476 | 1,999,993.01 | 1,917,540.01 | 2,215,191.03 | 3,089,998.03 | 3,556,057.24 | 4,092,411.38 | 4,709,662.91 | 5,420,013.46 | 6,237,504.98 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -1,334,744.99 | 1,388,971 | -2,472,360.01 | 3,005,640.01 | -333,581.02 | -54,302.24 | -62,492.55 | -71,918.20 | -82,765.50 | -95,248.88 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -51,577 | -66,165.01 | -47,949.01 | -65,801.01 | -78,139.99 | -100,496.77 | -115,654.53 | -133,098.51 | -153,173.54 | -176,276.44 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1,386,322 | 1,322,805.99 | -2,520,309.01 | 2,939,839 | -411,721.01 | -154,799.01 | -178,147.09 | -205,016.71 | -235,939.04 | -271,525.33 |
Weighted Average Cost Of Capital
| Share price | $ 21.72 |
|---|---|
| Beta | 0.098 |
| Diluted Shares Outstanding | 505.09 |
| Cost of Debt | |
| Tax Rate | 16.36 |
| After-tax Cost of Debt | 8.36% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.154 |
| Total Debt | 10,406,471 |
| Total Equity | 10,970.46 |
| Total Capital | 10,417,441.46 |
| Debt Weighting | 99.89 |
| Equity Weighting | 0.11 |
| 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 | 1,827,476 | 1,999,993.01 | 1,917,540.01 | 2,215,191.03 | 3,089,998.03 | 3,556,057.24 | 4,092,411.38 | 4,709,662.91 | 5,420,013.46 | 6,237,504.98 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -1,334,744.99 | 1,388,971 | -2,472,360.01 | 3,005,640.01 | -333,581.02 | -54,302.24 | -62,492.55 | -71,918.20 | -82,765.50 | -95,248.88 |
| Capital Expenditure | -51,577 | -66,165.01 | -47,949.01 | -65,801.01 | -78,139.99 | -100,496.77 | -115,654.53 | -133,098.51 | -153,173.54 | -176,276.44 |
| Free Cash Flow | -1,386,322 | 1,322,805.99 | -2,520,309.01 | 2,939,839 | -411,721.01 | -154,799.01 | -178,147.09 | -205,016.71 | -235,939.04 | -271,525.33 |
| WACC | ||||||||||
| PV LFCF | -142,856.23 | -151,719.27 | -161,132.18 | -171,129.08 | -181,746.21 | |||||
| SUM PV LFCF | -808,582.97 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.36 |
| Free cash flow (t + 1) | -276,955.83 |
| Terminal Value | -4,354,651.49 |
| Present Value of Terminal Value | -2,914,797.72 |
Intrinsic Value
| Enterprise Value | -3,723,380.69 |
|---|---|
| Net Debt | 6,869,391 |
| Equity Value | -10,592,771.69 |
| Shares Outstanding | 505.09 |
| Equity Value Per Share | -20,972.24 |