Discounted Cash Flow (DCF) Analysis Levered

Barclays PLC (BCS)

$8.7

+0.04 (+0.46%)
All numbers are in Millions, Currency in USD
Stock DCF: 131.06 | 8.7 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 21,63221,76621,94024,95651,33666,848.6587,048.89113,353.21147,606.13192,209.57
Revenue (%)
Operating Cash Flow -12,29557,50548,91930,23114,72477,563.87101,002.02131,522.68171,266.03223,018.98
Operating Cash Flow (%)
Capital Expenditure -1,793-1,324-1,720-1,746-1,718-4,352.38-5,667.58-7,380.20-9,610.34-12,514.37
Capital Expenditure (%)
Free Cash Flow -14,08856,18147,19928,48513,00673,211.4995,334.44124,142.48161,655.69210,504.61

Weighted Average Cost Of Capital

Share price $ 8.7
Beta 1.378
Diluted Shares Outstanding 15,895
Cost of Debt
Tax Rate 19.91
After-tax Cost of Debt 10.14%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.714
Total Debt 176,651
Total Equity 138,286.50
Total Capital 314,937.50
Debt Weighting 56.09
Equity Weighting 43.91
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 21,63221,76621,94024,95651,33666,848.6587,048.89113,353.21147,606.13192,209.57
Operating Cash Flow -12,29557,50548,91930,23114,72477,563.87101,002.02131,522.68171,266.03223,018.98
Capital Expenditure -1,793-1,324-1,720-1,746-1,718-4,352.38-5,667.58-7,380.20-9,610.34-12,514.37
Free Cash Flow -14,08856,18147,19928,48513,00673,211.4995,334.44124,142.48161,655.69210,504.61
WACC
PV LFCF 66,320.7678,233.0792,285.02108,860.94128,414.17
SUM PV LFCF 474,113.95

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.39
Free cash flow (t + 1) 214,714.70
Terminal Value 2,559,173.99
Present Value of Terminal Value 1,561,173.41

Intrinsic Value

Enterprise Value 2,035,287.37
Net Debt -47,983
Equity Value 2,083,270.37
Shares Outstanding 15,895
Equity Value Per Share 131.06