Discounted Cash Flow (DCF) Analysis Levered
BP Midstream Partners LP (BPMP)
$17.11
0.00 (-%)
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 | 108.15 | 116.44 | 128.47 | 128.90 | 119 | 122.17 | 125.42 | 128.76 | 132.19 | 135.71 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 69.24 | 173.78 | 189.33 | 190.40 | 151.24 | 155.26 | 159.40 | 163.64 | 168 | 172.47 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -2.26 | -1.60 | -1.08 | -3.50 | -2.09 | -2.14 | -2.20 | -2.26 | -2.32 | -2.38 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 66.98 | 172.18 | 188.25 | 186.90 | 149.15 | 153.12 | 157.20 | 161.38 | 165.68 | 170.09 |
Weighted Average Cost Of Capital
Share price | $ 17.11 |
---|---|
Beta | 1.056 |
Diluted Shares Outstanding | 104.80 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 0.85% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.505 |
Total Debt | 468 |
Total Equity | 1,793.13 |
Total Capital | 2,261.13 |
Debt Weighting | 20.70 |
Equity Weighting | 79.30 |
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 | 108.15 | 116.44 | 128.47 | 128.90 | 119 | 122.17 | 125.42 | 128.76 | 132.19 | 135.71 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 69.24 | 173.78 | 189.33 | 190.40 | 151.24 | 155.26 | 159.40 | 163.64 | 168 | 172.47 |
Capital Expenditure | -2.26 | -1.60 | -1.08 | -3.50 | -2.09 | -2.14 | -2.20 | -2.26 | -2.32 | -2.38 |
Free Cash Flow | 66.98 | 172.18 | 188.25 | 186.90 | 149.15 | 153.12 | 157.20 | 161.38 | 165.68 | 170.09 |
WACC | ||||||||||
PV LFCF | 143.21 | 137.51 | 132.03 | 126.77 | 121.73 | |||||
SUM PV LFCF | 661.25 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.92 |
Free cash flow (t + 1) | 173.49 |
Terminal Value | 3,526.24 |
Present Value of Terminal Value | 2,523.58 |
Intrinsic Value
Enterprise Value | 3,184.82 |
---|---|
Net Debt | 332 |
Equity Value | 2,852.82 |
Shares Outstanding | 104.80 |
Equity Value Per Share | 27.22 |