Discounted Cash Flow (DCF) Analysis Levered

Bunge Limited (BG)

$115.625

+0.17 (+0.14%)
All numbers are in Millions, Currency in USD
Stock DCF: -977.32 | 115.625 | overvalue

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 45,79445,74341,14041,40459,15264,081.2969,421.3575,206.4081,473.5588,262.95
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 45,79445,74341,14041,40459,15264,081.2969,421.3575,206.4081,473.5588,262.95
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