Discounted Cash Flow (DCF) Analysis Levered
Babcock & Wilcox Enterprises, Inc. (BW)
$6.37
+0.56 (+9.64%)
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 | 1,557.73 | 1,062.39 | 859.11 | 566.32 | 723 | 619.34 | 530.55 | 454.49 | 389.33 | 333.51 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -189.83 | -281.89 | -176.32 | -40.81 | -111 | -101.33 | -86.80 | -74.35 | -63.69 | -54.56 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -14.28 | -5.47 | -3.80 | -8.23 | -6 | -5.15 | -4.41 | -3.78 | -3.24 | -2.77 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -204.11 | -287.36 | -180.12 | -49.04 | -117 | -106.48 | -91.21 | -78.13 | -66.93 | -57.34 |
Weighted Average Cost Of Capital
| Share price | $ 6.37 |
|---|---|
| Beta | 2.501 |
| Diluted Shares Outstanding | 83.58 |
| Cost of Debt | |
| Tax Rate | -6.90 |
| After-tax Cost of Debt | -69.52% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.929 |
| Total Debt | 56.10 |
| Total Equity | 532.40 |
| Total Capital | 588.50 |
| Debt Weighting | 9.53 |
| Equity Weighting | 90.47 |
| 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 | 1,557.73 | 1,062.39 | 859.11 | 566.32 | 723 | 619.34 | 530.55 | 454.49 | 389.33 | 333.51 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -189.83 | -281.89 | -176.32 | -40.81 | -111 | -101.33 | -86.80 | -74.35 | -63.69 | -54.56 |
| Capital Expenditure | -14.28 | -5.47 | -3.80 | -8.23 | -6 | -5.15 | -4.41 | -3.78 | -3.24 | -2.77 |
| Free Cash Flow | -204.11 | -287.36 | -180.12 | -49.04 | -117 | -106.48 | -91.21 | -78.13 | -66.93 | -57.34 |
| WACC | ||||||||||
| PV LFCF | -99.62 | -79.85 | -64 | -51.29 | -41.11 | |||||
| SUM PV LFCF | -335.87 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.88 |
| Free cash flow (t + 1) | -58.48 |
| Terminal Value | -1,198.42 |
| Present Value of Terminal Value | -859.27 |
Intrinsic Value
| Enterprise Value | -1,195.13 |
|---|---|
| Net Debt | -167.90 |
| Equity Value | -1,027.23 |
| Shares Outstanding | 83.58 |
| Equity Value Per Share | -12.29 |