Discounted Cash Flow (DCF) Analysis Levered
Brookfield Infrastructure Partners ... (BIP)
$36.84
+0.13 (+0.35%)
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 | 4,652 | 6,597 | 8,885 | 11,537 | 14,427 | 19,165.92 | 25,461.46 | 33,824.93 | 44,935.60 | 59,695.86 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,362 | 2,143 | 2,530 | 2,772 | 3,131 | 5,211.85 | 6,923.81 | 9,198.12 | 12,219.48 | 16,233.28 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -839 | -1,182 | -1,472 | -1,982 | -2,734 | -3,398.11 | -4,514.31 | -5,997.15 | -7,967.07 | -10,584.05 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 523 | 961 | 1,058 | 790 | 397 | 1,813.74 | 2,409.51 | 3,200.97 | 4,252.41 | 5,649.23 |
Weighted Average Cost Of Capital
| Share price | $ 36.84 |
|---|---|
| Beta | 0.892 |
| Diluted Shares Outstanding | 442.05 |
| Cost of Debt | |
| Tax Rate | 82.38 |
| After-tax Cost of Debt | 1.08% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.922 |
| Total Debt | 30,233 |
| Total Equity | 16,285.12 |
| Total Capital | 46,518.12 |
| Debt Weighting | 64.99 |
| Equity Weighting | 35.01 |
| 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 | 4,652 | 6,597 | 8,885 | 11,537 | 14,427 | 19,165.92 | 25,461.46 | 33,824.93 | 44,935.60 | 59,695.86 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,362 | 2,143 | 2,530 | 2,772 | 3,131 | 5,211.85 | 6,923.81 | 9,198.12 | 12,219.48 | 16,233.28 |
| Capital Expenditure | -839 | -1,182 | -1,472 | -1,982 | -2,734 | -3,398.11 | -4,514.31 | -5,997.15 | -7,967.07 | -10,584.05 |
| Free Cash Flow | 523 | 961 | 1,058 | 790 | 397 | 1,813.74 | 2,409.51 | 3,200.97 | 4,252.41 | 5,649.23 |
| WACC | ||||||||||
| PV LFCF | 1,752.74 | 2,250.17 | 2,888.77 | 3,708.60 | 4,761.10 | |||||
| SUM PV LFCF | 15,361.37 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.48 |
| Free cash flow (t + 1) | 5,762.21 |
| Terminal Value | 389,338.57 |
| Present Value of Terminal Value | 328,129.54 |
Intrinsic Value
| Enterprise Value | 343,490.91 |
|---|---|
| Net Debt | 28,954 |
| Equity Value | 314,536.91 |
| Shares Outstanding | 442.05 |
| Equity Value Per Share | 711.54 |