Discounted Cash Flow (DCF) Analysis Levered

Boralex Inc. (BLX.TO)

$31.14

-0.58 (-1.83%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: 131.93 | 31.14 | undervalue

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 479574633691836961.941,106.851,273.601,465.461,686.23
Revenue (%)
Operating Cash Flow 202294362345513503.81579.70667.03767.52883.14
Operating Cash Flow (%)
Capital Expenditure -282-177-156-179-256-328.75-378.28-435.26-500.84-576.28
Capital Expenditure (%)
Free Cash Flow -80117206166257175.05201.43231.77266.68306.86

Weighted Average Cost Of Capital

Share price $ 31.14
Beta 0.343
Diluted Shares Outstanding 102.77
Cost of Debt
Tax Rate 55.56
After-tax Cost of Debt 1.44%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.160
Total Debt 3,607
Total Equity 3,200.40
Total Capital 6,807.40
Debt Weighting 52.99
Equity Weighting 47.01
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 479574633691836961.941,106.851,273.601,465.461,686.23
Operating Cash Flow 202294362345513503.81579.70667.03767.52883.14
Capital Expenditure -282-177-156-179-256-328.75-378.28-435.26-500.84-576.28
Free Cash Flow -80117206166257175.05201.43231.77266.68306.86
WACC
PV LFCF 168.87187.45208.08230.97256.38
SUM PV LFCF 1,051.75

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.66
Free cash flow (t + 1) 313
Terminal Value 18,855.21
Present Value of Terminal Value 15,753.44

Intrinsic Value

Enterprise Value 16,805.19
Net Debt 3,246
Equity Value 13,559.19
Shares Outstanding 102.77
Equity Value Per Share 131.93