Discounted Cash Flow (DCF) Analysis Levered

Brookfield Infrastructure Corporati... (BIPC.TO)

$57.7

-2.22 (-3.70%)
All numbers are in Millions, Currency in USD
Stock DCF: 405.00 | 57.7 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,5611,6191,4301,6431,680.991,719.861,759.631,800.311,841.94
Revenue (%)
Operating Cash Flow 1,0651,083730839996.961,020.021,043.601,067.731,092.42
Operating Cash Flow (%)
Capital Expenditure -443-459.46-405.82-466.27-477.05-488.08-499.37-510.92-522.73
Capital Expenditure (%)
Free Cash Flow 622623.54324.18372.73519.91531.93544.23556.82569.69

Weighted Average Cost Of Capital

Share price $ 57.7
Beta 1.128
Diluted Shares Outstanding 110.16
Cost of Debt
Tax Rate 185.19
After-tax Cost of Debt -6.79%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.837
Total Debt 3,687
Total Equity 6,356.02
Total Capital 10,043.02
Debt Weighting 36.71
Equity Weighting 63.29
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,5611,6191,4301,6431,680.991,719.861,759.631,800.311,841.94
Operating Cash Flow 1,0651,083730839996.961,020.021,043.601,067.731,092.42
Capital Expenditure -443-459.46-405.82-466.27-477.05-488.08-499.37-510.92-522.73
Free Cash Flow 622623.54324.18372.73519.91531.93544.23556.82569.69
WACC
PV LFCF 519.91515.94512508.09504.20
SUM PV LFCF 2,483.16

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.10
Free cash flow (t + 1) 581.09
Terminal Value 52,826.10
Present Value of Terminal Value 45,347.69

Intrinsic Value

Enterprise Value 47,830.86
Net Debt 3,218
Equity Value 44,612.86
Shares Outstanding 110.16
Equity Value Per Share 405.00