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 |