Discounted Cash Flow (DCF) Analysis Levered
Brighthouse Financial, Inc. (BHF)
$43.98
+0.70 (+1.62%)
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 | 8,925 | 6,554 | 8,266 | 5,751 | 8,473 | 8,821.68 | 9,184.71 | 9,562.67 | 9,956.19 | 10,365.91 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 3,062 | 1,828 | 888 | 746 | -1,151 | 1,276.14 | 1,328.65 | 1,383.33 | 1,440.26 | 1,499.52 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 1,276.14 | 1,328.65 | 1,383.33 | 1,440.26 | 1,499.52 |
Weighted Average Cost Of Capital
Share price | $ 43.98 |
---|---|
Beta | 1.315 |
Diluted Shares Outstanding | 84.47 |
Cost of Debt | |
Tax Rate | 102.91 |
After-tax Cost of Debt | -0.14% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.744 |
Total Debt | 3,156 |
Total Equity | 3,714.82 |
Total Capital | 6,870.82 |
Debt Weighting | 45.93 |
Equity Weighting | 54.07 |
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 | 8,925 | 6,554 | 8,266 | 5,751 | 8,473 | 8,821.68 | 9,184.71 | 9,562.67 | 9,956.19 | 10,365.91 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 3,062 | 1,828 | 888 | 746 | -1,151 | 1,276.14 | 1,328.65 | 1,383.33 | 1,440.26 | 1,499.52 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 1,276.14 | 1,328.65 | 1,383.33 | 1,440.26 | 1,499.52 |
WACC | ||||||||||
PV LFCF | 1,213.06 | 1,200.55 | 1,188.17 | 1,175.92 | 1,163.79 | |||||
SUM PV LFCF | 5,941.48 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.20 |
Free cash flow (t + 1) | 1,529.51 |
Terminal Value | 47,797.33 |
Present Value of Terminal Value | 37,095.82 |
Intrinsic Value
Enterprise Value | 43,037.30 |
---|---|
Net Debt | -959 |
Equity Value | 43,996.30 |
Shares Outstanding | 84.47 |
Equity Value Per Share | 520.87 |