Discounted Cash Flow (DCF) Analysis Levered
Bio-Rad Laboratories, Inc. (BIO-B)
$373.785
-13.77 (0.00%)
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 | 2,290.11 | 2,311.66 | 2,545.63 | 2,922.55 | 2,802.25 | 2,954.64 | 3,115.32 | 3,284.73 | 3,463.36 | 3,651.70 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 285.49 | 457.90 | 575.33 | 656.52 | 194.45 | 498.02 | 525.11 | 553.66 | 583.77 | 615.52 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -129.83 | -98.53 | -98.92 | -120.80 | -114.16 | -130.15 | -137.23 | -144.69 | -152.56 | -160.85 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 155.67 | 359.37 | 476.41 | 535.72 | 80.29 | 367.87 | 387.88 | 408.97 | 431.21 | 454.66 |
Weighted Average Cost Of Capital
| Share price | $ 373.785 |
|---|---|
| Beta | 0.887 |
| Diluted Shares Outstanding | 29.79 |
| Cost of Debt | |
| Tax Rate | 22.89 |
| After-tax Cost of Debt | 2.45% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.733 |
| Total Debt | 1,198.18 |
| Total Equity | 11,133.19 |
| Total Capital | 12,331.37 |
| Debt Weighting | 9.72 |
| Equity Weighting | 90.28 |
| 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 | 2,290.11 | 2,311.66 | 2,545.63 | 2,922.55 | 2,802.25 | 2,954.64 | 3,115.32 | 3,284.73 | 3,463.36 | 3,651.70 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 285.49 | 457.90 | 575.33 | 656.52 | 194.45 | 498.02 | 525.11 | 553.66 | 583.77 | 615.52 |
| Capital Expenditure | -129.83 | -98.53 | -98.92 | -120.80 | -114.16 | -130.15 | -137.23 | -144.69 | -152.56 | -160.85 |
| Free Cash Flow | 155.67 | 359.37 | 476.41 | 535.72 | 80.29 | 367.87 | 387.88 | 408.97 | 431.21 | 454.66 |
| WACC | ||||||||||
| PV LFCF | 340.25 | 331.81 | 323.58 | 315.55 | 307.72 | |||||
| SUM PV LFCF | 1,618.90 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.12 |
| Free cash flow (t + 1) | 463.76 |
| Terminal Value | 7,577.72 |
| Present Value of Terminal Value | 5,128.71 |
Intrinsic Value
| Enterprise Value | 6,747.61 |
|---|---|
| Net Debt | 763.97 |
| Equity Value | 5,983.65 |
| Shares Outstanding | 29.79 |
| Equity Value Per Share | 200.89 |