Discounted Cash Flow (DCF) Analysis Levered
Babcock & Wilcox Enterprises, Inc. (BW)
$4.29
+0.07 (+1.66%)
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 | 1,062.39 | 859.10 | 566.30 | 723.40 | 889.80 | 884.30 | 878.83 | 873.40 | 868 | 862.63 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -281.89 | -176.30 | -40.80 | -111.20 | -30.60 | -129.23 | -128.43 | -127.64 | -126.85 | -126.06 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -5.47 | -3.80 | -8.20 | -6.70 | -13.20 | -8.52 | -8.46 | -8.41 | -8.36 | -8.31 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -287.36 | -180.10 | -49 | -117.90 | -43.80 | -137.75 | -136.90 | -136.05 | -135.21 | -134.37 |
Weighted Average Cost Of Capital
| Share price | $ 4.29 |
|---|---|
| Beta | 1.958 |
| Diluted Shares Outstanding | 88.26 |
| Cost of Debt | |
| Tax Rate | -71.61 |
| After-tax Cost of Debt | 10.92% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 13.765 |
| Total Debt | 411.90 |
| Total Equity | 378.62 |
| Total Capital | 790.52 |
| Debt Weighting | 52.11 |
| Equity Weighting | 47.89 |
| 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 | 1,062.39 | 859.10 | 566.30 | 723.40 | 889.80 | 884.30 | 878.83 | 873.40 | 868 | 862.63 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -281.89 | -176.30 | -40.80 | -111.20 | -30.60 | -129.23 | -128.43 | -127.64 | -126.85 | -126.06 |
| Capital Expenditure | -5.47 | -3.80 | -8.20 | -6.70 | -13.20 | -8.52 | -8.46 | -8.41 | -8.36 | -8.31 |
| Free Cash Flow | -287.36 | -180.10 | -49 | -117.90 | -43.80 | -137.75 | -136.90 | -136.05 | -135.21 | -134.37 |
| WACC | ||||||||||
| PV LFCF | -122.68 | -108.59 | -96.11 | -85.07 | -75.30 | |||||
| SUM PV LFCF | -487.76 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.28 |
| Free cash flow (t + 1) | -137.06 |
| Terminal Value | -1,333.27 |
| Present Value of Terminal Value | -747.14 |
Intrinsic Value
| Enterprise Value | -1,234.90 |
|---|---|
| Net Debt | 335.20 |
| Equity Value | -1,570.10 |
| Shares Outstanding | 88.26 |
| Equity Value Per Share | -17.79 |