Discounted Cash Flow (DCF) Analysis Levered
BP p.l.c. (BP)
$34.68
-0.47 (-1.34%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 240,208 | 298,756 | 278,397 | 180,366 | 157,739 | 145,830.33 | 134,820.71 | 124,642.28 | 115,232.27 | 106,532.69 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 18,931 | 22,873 | 25,770 | 12,162 | 23,612 | 13,563.89 | 12,539.87 | 11,593.16 | 10,717.92 | 9,908.76 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -16,562 | -16,707 | -15,418 | -12,306 | -10,887 | -9,260.19 | -8,561.08 | -7,914.75 | -7,317.22 | -6,764.80 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 2,369 | 6,166 | 10,352 | -144 | 12,725 | 4,303.70 | 3,978.79 | 3,678.40 | 3,400.70 | 3,143.96 |
Weighted Average Cost Of Capital
| Share price | $ 34.68 |
|---|---|
| Beta | 0.651 |
| Diluted Shares Outstanding | 3,376.73 |
| Cost of Debt | |
| Tax Rate | 50.32 |
| After-tax Cost of Debt | 1.93% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.689 |
| Total Debt | 69,787 |
| Total Equity | 117,105.04 |
| Total Capital | 186,892.04 |
| Debt Weighting | 37.34 |
| Equity Weighting | 62.66 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 240,208 | 298,756 | 278,397 | 180,366 | 157,739 | 145,830.33 | 134,820.71 | 124,642.28 | 115,232.27 | 106,532.69 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 18,931 | 22,873 | 25,770 | 12,162 | 23,612 | 13,563.89 | 12,539.87 | 11,593.16 | 10,717.92 | 9,908.76 |
| Capital Expenditure | -16,562 | -16,707 | -15,418 | -12,306 | -10,887 | -9,260.19 | -8,561.08 | -7,914.75 | -7,317.22 | -6,764.80 |
| Free Cash Flow | 2,369 | 6,166 | 10,352 | -144 | 12,725 | 4,303.70 | 3,978.79 | 3,678.40 | 3,400.70 | 3,143.96 |
| WACC | ||||||||||
| PV LFCF | 4,102.28 | 3,615.07 | 3,185.73 | 2,807.38 | 2,473.96 | |||||
| SUM PV LFCF | 16,184.41 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.91 |
| Free cash flow (t + 1) | 3,206.84 |
| Terminal Value | 110,200.61 |
| Present Value of Terminal Value | 86,716.07 |
Intrinsic Value
| Enterprise Value | 102,900.48 |
|---|---|
| Net Debt | 43,846 |
| Equity Value | 59,054.48 |
| Shares Outstanding | 3,376.73 |
| Equity Value Per Share | 17.49 |