Discounted Cash Flow (DCF) Analysis Levered
Ball Corporation (BLL)
$69.49
-2.42 (-3.37%)
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 | 11,635 | 11,474 | 11,781 | 13,811 | 15,349 | 16,487.09 | 17,709.57 | 19,022.69 | 20,433.18 | 21,948.25 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,566 | 1,548 | 1,432 | 1,760 | 283 | 1,770.49 | 1,901.77 | 2,042.78 | 2,194.24 | 2,356.94 |
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 | 750 | 950 | 319 | 34 | -1,368 | 289.08 | 310.52 | 333.54 | 358.27 | 384.84 |
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 | 11,635 | 11,474 | 11,781 | 13,811 | 15,349 | 16,487.09 | 17,709.57 | 19,022.69 | 20,433.18 | 21,948.25 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,566 | 1,548 | 1,432 | 1,760 | 283 | 1,770.49 | 1,901.77 | 2,042.78 | 2,194.24 | 2,356.94 |
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 | 750 | 950 | 319 | 34 | -1,368 | 289.08 | 310.52 | 333.54 | 358.27 | 384.84 |
WACC | ||||||||||
PV LFCF | 272.82 | 276.57 | 280.37 | 284.21 | 288.12 | |||||
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 |