Discounted Cash Flow (DCF) Analysis Levered
Bunge Limited (BG)
$115.625
+0.17 (+0.14%)
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 | 45,794 | 45,743 | 41,140 | 41,404 | 59,152 | 64,081.29 | 69,421.35 | 75,206.40 | 81,473.55 | 88,262.95 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,006 | -1,264 | -808 | -3,536 | -2,894 | -2,045.89 | -2,216.38 | -2,401.07 | -2,601.16 | -2,817.92 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -662 | -493 | -524 | -365 | -399 | -686.07 | -743.25 | -805.18 | -872.28 | -944.97 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 344 | -1,757 | -1,332 | -3,901 | -3,293 | -2,731.96 | -2,959.62 | -3,206.26 | -3,473.44 | -3,762.89 |
Weighted Average Cost Of Capital
| Share price | $ 115.625 |
|---|---|
| Beta | 0.493 |
| Diluted Shares Outstanding | 150 |
| Cost of Debt | |
| Tax Rate | 18.99 |
| After-tax Cost of Debt | 2.88% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.054 |
| Total Debt | 6,820 |
| Total Equity | 17,343.75 |
| Total Capital | 24,163.75 |
| Debt Weighting | 28.22 |
| Equity Weighting | 71.78 |
| 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 | 45,794 | 45,743 | 41,140 | 41,404 | 59,152 | 64,081.29 | 69,421.35 | 75,206.40 | 81,473.55 | 88,262.95 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,006 | -1,264 | -808 | -3,536 | -2,894 | -2,045.89 | -2,216.38 | -2,401.07 | -2,601.16 | -2,817.92 |
| Capital Expenditure | -662 | -493 | -524 | -365 | -399 | -686.07 | -743.25 | -805.18 | -872.28 | -944.97 |
| Free Cash Flow | 344 | -1,757 | -1,332 | -3,901 | -3,293 | -2,731.96 | -2,959.62 | -3,206.26 | -3,473.44 | -3,762.89 |
| WACC | ||||||||||
| PV LFCF | -2,615.82 | -2,713.33 | -2,814.48 | -2,919.39 | -3,028.22 | |||||
| SUM PV LFCF | -14,091.24 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.44 |
| Free cash flow (t + 1) | -3,838.15 |
| Terminal Value | -157,301.19 |
| Present Value of Terminal Value | -126,589.50 |
Intrinsic Value
| Enterprise Value | -140,680.74 |
|---|---|
| Net Debt | 5,918 |
| Equity Value | -146,598.74 |
| Shares Outstanding | 150 |
| Equity Value Per Share | -977.32 |