Discounted Cash Flow (DCF) Analysis Levered
The Brink's Company (BCO)
$61.47
+1.13 (+1.87%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 3,488.90 | 3,683.20 | 3,690.90 | 4,200.20 | 4,474.29 | 4,766.27 | 5,077.30 | 5,408.62 | 5,761.57 |
---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||
Operating Cash Flow | 364.10 | 368.60 | 317.70 | 478 | 452.26 | 481.77 | 513.21 | 546.70 | 582.37 |
Operating Cash Flow (%) | |||||||||
Capital Expenditure | -155.10 | -164.80 | -118.50 | -167.90 | -180.40 | -192.17 | -204.72 | -218.07 | -232.31 |
Capital Expenditure (%) | |||||||||
Free Cash Flow | 209 | 203.80 | 199.20 | 310.10 | 271.85 | 289.59 | 308.49 | 328.62 | 350.07 |
Weighted Average Cost Of Capital
Share price | $ 61.47 |
---|---|
Beta | 1.487 |
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 | 9.762 |
Total Debt | 3,285.80 |
Total Equity | 3,122.68 |
Total Capital | 6,408.48 |
Debt Weighting | 51.27 |
Equity Weighting | 48.73 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 3,488.90 | 3,683.20 | 3,690.90 | 4,200.20 | 4,474.29 | 4,766.27 | 5,077.30 | 5,408.62 | 5,761.57 |
---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 364.10 | 368.60 | 317.70 | 478 | 452.26 | 481.77 | 513.21 | 546.70 | 582.37 |
Capital Expenditure | -155.10 | -164.80 | -118.50 | -167.90 | -180.40 | -192.17 | -204.72 | -218.07 | -232.31 |
Free Cash Flow | 209 | 203.80 | 199.20 | 310.10 | 271.85 | 289.59 | 308.49 | 328.62 | 350.07 |
WACC | |||||||||
PV LFCF | 271.85 | 274.39 | 276.96 | 279.54 | 282.15 | ||||
SUM PV LFCF | 1,312.20 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.54 |
Free cash flow (t + 1) | 357.07 |
Terminal Value | 10,086.73 |
Present Value of Terminal Value | 7,703.09 |
Intrinsic Value
Enterprise Value | 9,015.29 |
---|---|
Net Debt | 2,575.50 |
Equity Value | 6,439.79 |
Shares Outstanding | 50.80 |
Equity Value Per Share | 126.77 |