Discounted Cash Flow (DCF) Analysis Levered
Bunge Limited (BG)
$92.81
+1.63 (+1.79%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 45,743 | 41,140 | 41,404 | 59,152 | 67,232 | 75,149.26 | 83,998.86 | 93,890.59 | 104,947.17 | 117,305.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -1,264 | -808 | -3,536 | -2,894 | -5,549 | -3,969.91 | -4,437.41 | -4,959.96 | -5,544.05 | -6,196.92 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -493 | -524 | -365 | -399 | -555 | -711.37 | -795.14 | -888.78 | -993.44 | -1,110.43 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1,757 | -1,332 | -3,901 | -3,293 | -6,104 | -4,681.28 | -5,232.55 | -5,848.74 | -6,537.49 | -7,307.35 |
Weighted Average Cost Of Capital
| Share price | $ 92.81 |
|---|---|
| Beta | 0.650 |
| Diluted Shares Outstanding | 150 |
| Cost of Debt | |
| Tax Rate | 22.07 |
| After-tax Cost of Debt | 5.59% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.818 |
| Total Debt | 5,623 |
| Total Equity | 13,921.50 |
| Total Capital | 19,544.50 |
| Debt Weighting | 28.77 |
| Equity Weighting | 71.23 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 45,743 | 41,140 | 41,404 | 59,152 | 67,232 | 75,149.26 | 83,998.86 | 93,890.59 | 104,947.17 | 117,305.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -1,264 | -808 | -3,536 | -2,894 | -5,549 | -3,969.91 | -4,437.41 | -4,959.96 | -5,544.05 | -6,196.92 |
| Capital Expenditure | -493 | -524 | -365 | -399 | -555 | -711.37 | -795.14 | -888.78 | -993.44 | -1,110.43 |
| Free Cash Flow | -1,757 | -1,332 | -3,901 | -3,293 | -6,104 | -4,681.28 | -5,232.55 | -5,848.74 | -6,537.49 | -7,307.35 |
| WACC | ||||||||||
| PV LFCF | -4,397.22 | -4,616.80 | -4,847.33 | -5,089.38 | -5,343.52 | |||||
| SUM PV LFCF | -24,294.25 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.46 |
| Free cash flow (t + 1) | -7,453.49 |
| Terminal Value | -167,118.66 |
| Present Value of Terminal Value | -122,206.03 |
Intrinsic Value
| Enterprise Value | -146,500.28 |
|---|---|
| Net Debt | 4,519 |
| Equity Value | -151,019.28 |
| Shares Outstanding | 150 |
| Equity Value Per Share | -1,006.80 |