Discounted Cash Flow (DCF) Analysis Levered
The Brink's Company (BCO)
$65.01
-0.53 (-0.81%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 3,347 | 3,488.90 | 3,683.20 | 3,690.90 | 4,200.20 | 4,450.29 | 4,715.26 | 4,996.02 | 5,293.49 | 5,608.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 252.10 | 364.10 | 368.60 | 317.70 | 478 | 426.90 | 452.32 | 479.26 | 507.79 | 538.03 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -174.50 | -155.10 | -164.80 | -118.50 | -167.90 | -189.95 | -201.26 | -213.25 | -225.94 | -239.40 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 77.60 | 209 | 203.80 | 199.20 | 310.10 | 236.95 | 251.06 | 266.01 | 281.85 | 298.63 |
Weighted Average Cost Of Capital
| Share price | $ 65.01 |
|---|---|
| Beta | 1.326 |
| Diluted Shares Outstanding | 50.80 |
| Cost of Debt | |
| Tax Rate | 55.33 |
| After-tax Cost of Debt | 1.52% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.791 |
| Total Debt | 3,285.80 |
| Total Equity | 3,302.51 |
| Total Capital | 6,588.31 |
| Debt Weighting | 49.87 |
| Equity Weighting | 50.13 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 3,347 | 3,488.90 | 3,683.20 | 3,690.90 | 4,200.20 | 4,450.29 | 4,715.26 | 4,996.02 | 5,293.49 | 5,608.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 252.10 | 364.10 | 368.60 | 317.70 | 478 | 426.90 | 452.32 | 479.26 | 507.79 | 538.03 |
| Capital Expenditure | -174.50 | -155.10 | -164.80 | -118.50 | -167.90 | -189.95 | -201.26 | -213.25 | -225.94 | -239.40 |
| Free Cash Flow | 77.60 | 209 | 203.80 | 199.20 | 310.10 | 236.95 | 251.06 | 266.01 | 281.85 | 298.63 |
| WACC | ||||||||||
| PV LFCF | 224.24 | 224.84 | 225.45 | 226.05 | 226.66 | |||||
| SUM PV LFCF | 1,127.24 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.67 |
| Free cash flow (t + 1) | 304.60 |
| Terminal Value | 8,299.80 |
| Present Value of Terminal Value | 6,299.54 |
Intrinsic Value
| Enterprise Value | 7,426.78 |
|---|---|
| Net Debt | 2,575.50 |
| Equity Value | 4,851.28 |
| Shares Outstanding | 50.80 |
| Equity Value Per Share | 95.50 |