Discounted Cash Flow (DCF) Analysis Levered
Banco Santander México, S.A., Insti... (BSMX)
$5.46
+0.13 (+2.44%)
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 | 80,161 | 68,002 | 67,191 | 68,224 | 96,252 | 102,570.68 | 109,304.16 | 116,479.67 | 124,126.24 | 132,274.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 15,554 | 34,470 | 13,213 | -9,255 | 39,601 | 24,070.34 | 25,650.49 | 27,334.38 | 29,128.80 | 31,041.03 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -6,271 | -12,002 | -3,911 | -5,288 | -7,168 | -9,537.28 | -10,163.38 | -10,830.57 | -11,541.57 | -12,299.24 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 9,283 | 22,468 | 9,302 | -14,543 | 32,433 | 14,533.06 | 15,487.12 | 16,503.80 | 17,587.23 | 18,741.79 |
Weighted Average Cost Of Capital
| Share price | $ 5.46 |
|---|---|
| Beta | 0.811 |
| Diluted Shares Outstanding | 1,357.40 |
| Cost of Debt | |
| Tax Rate | 25.73 |
| After-tax Cost of Debt | 31.68% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.639 |
| Total Debt | 149,656 |
| Total Equity | 7,411.40 |
| Total Capital | 157,067.40 |
| Debt Weighting | 95.28 |
| Equity Weighting | 4.72 |
| 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 | 80,161 | 68,002 | 67,191 | 68,224 | 96,252 | 102,570.68 | 109,304.16 | 116,479.67 | 124,126.24 | 132,274.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 15,554 | 34,470 | 13,213 | -9,255 | 39,601 | 24,070.34 | 25,650.49 | 27,334.38 | 29,128.80 | 31,041.03 |
| Capital Expenditure | -6,271 | -12,002 | -3,911 | -5,288 | -7,168 | -9,537.28 | -10,163.38 | -10,830.57 | -11,541.57 | -12,299.24 |
| Free Cash Flow | 9,283 | 22,468 | 9,302 | -14,543 | 32,433 | 14,533.06 | 15,487.12 | 16,503.80 | 17,587.23 | 18,741.79 |
| WACC | ||||||||||
| PV LFCF | 11,132.18 | 9,086.92 | 7,417.43 | 6,054.66 | 4,942.27 | |||||
| SUM PV LFCF | 38,633.47 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 30.55 |
| Free cash flow (t + 1) | 19,116.62 |
| Terminal Value | 66,958.39 |
| Present Value of Terminal Value | 17,657.15 |
Intrinsic Value
| Enterprise Value | 56,290.62 |
|---|---|
| Net Debt | 56,303 |
| Equity Value | -12.38 |
| Shares Outstanding | 1,357.40 |
| Equity Value Per Share | -0.01 |