Discounted Cash Flow (DCF) Analysis Levered
The Brink's Company (BCO)
$71.77
-0.36 (-0.50%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 3,683.20 | 3,690.90 | 4,200.20 | 4,535.50 | 4,867.96 | 5,224.80 | 5,607.79 | 6,018.86 | 6,460.06 |
---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||
Operating Cash Flow | 368.60 | 317.70 | 478 | 479.90 | 493.81 | 530.01 | 568.86 | 610.56 | 655.32 |
Operating Cash Flow (%) | |||||||||
Capital Expenditure | -164.80 | -118.50 | -167.90 | -176.62 | -189.57 | -203.46 | -218.37 | -234.38 | -251.56 |
Capital Expenditure (%) | |||||||||
Free Cash Flow | 203.80 | 199.20 | 310.10 | 303.28 | 304.25 | 326.55 | 350.49 | 376.18 | 403.76 |
Weighted Average Cost Of Capital
Share price | $ 71.77 |
---|---|
Beta | 1.349 |
Diluted Shares Outstanding | 47.80 |
Cost of Debt | |
Tax Rate | 24.58 |
After-tax Cost of Debt | 2.87% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.111 |
Total Debt | 3,652.70 |
Total Equity | 3,430.61 |
Total Capital | 7,083.31 |
Debt Weighting | 51.57 |
Equity Weighting | 48.43 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 3,683.20 | 3,690.90 | 4,200.20 | 4,535.50 | 4,867.96 | 5,224.80 | 5,607.79 | 6,018.86 | 6,460.06 |
---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 368.60 | 317.70 | 478 | 479.90 | 493.81 | 530.01 | 568.86 | 610.56 | 655.32 |
Capital Expenditure | -164.80 | -118.50 | -167.90 | -176.62 | -189.57 | -203.46 | -218.37 | -234.38 | -251.56 |
Free Cash Flow | 203.80 | 199.20 | 310.10 | 303.28 | 304.25 | 326.55 | 350.49 | 376.18 | 403.76 |
WACC | |||||||||
PV LFCF | 223.43 | 225.44 | 227.48 | 229.53 | 231.60 | ||||
SUM PV LFCF | 1,456.20 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.37 |
Free cash flow (t + 1) | 411.83 |
Terminal Value | 9,424.04 |
Present Value of Terminal Value | 6,920.56 |
Intrinsic Value
Enterprise Value | 8,376.76 |
---|---|
Net Debt | 2,680.70 |
Equity Value | 5,696.06 |
Shares Outstanding | 47.80 |
Equity Value Per Share | 119.16 |