Discounted Cash Flow (DCF) Analysis Levered

Ball Corporation (BLL)

$69.49

-2.42 (-3.37%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.32 | 69.49 | overvalue

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 11,63511,47411,78113,81115,34916,487.0917,709.5719,022.6920,433.1821,948.25
Revenue (%)
Operating Cash Flow 1,5661,5481,4321,7602831,770.491,901.772,042.782,194.242,356.94
Operating Cash Flow (%)
Capital Expenditure -816-598-1,113-1,726-1,651-1,481.40-1,591.25-1,709.23-1,835.97-1,972.10
Capital Expenditure (%)
Free Cash Flow 75095031934-1,368289.08310.52333.54358.27384.84

Weighted Average Cost Of Capital

Share price $ 69.49
Beta 0.548
Diluted Shares Outstanding 320.01
Cost of Debt
Tax Rate 18.67
After-tax Cost of Debt 2.84%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.211
Total Debt 8,948
Total Equity 22,237.36
Total Capital 31,185.36
Debt Weighting 28.69
Equity Weighting 71.31
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 11,63511,47411,78113,81115,34916,487.0917,709.5719,022.6920,433.1821,948.25
Operating Cash Flow 1,5661,5481,4321,7602831,770.491,901.772,042.782,194.242,356.94
Capital Expenditure -816-598-1,113-1,726-1,651-1,481.40-1,591.25-1,709.23-1,835.97-1,972.10
Free Cash Flow 75095031934-1,368289.08310.52333.54358.27384.84
WACC
PV LFCF 272.82276.57280.37284.21288.12
SUM PV LFCF 1,402.09

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.96
Free cash flow (t + 1) 392.54
Terminal Value 9,912.51
Present Value of Terminal Value 7,421.20

Intrinsic Value

Enterprise Value 8,823.29
Net Debt 8,400
Equity Value 423.29
Shares Outstanding 320.01
Equity Value Per Share 1.32