Discounted Cash Flow (DCF) Analysis Levered
Babcock & Wilcox Enterprises, Inc. (BW)
$5.71
-0.13 (-2.23%)
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 | 859.11 | 566.32 | 723.36 | 889.80 | 884.29 | 878.82 | 873.38 | 867.98 | 862.61 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -281.89 | -176.32 | -40.81 | -111.20 | -30.60 | -129.24 | -128.44 | -127.64 | -126.85 | -126.07 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -5.47 | -3.80 | -8.23 | -6.68 | -13.20 | -8.52 | -8.47 | -8.42 | -8.36 | -8.31 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -287.36 | -180.12 | -49.04 | -117.87 | -43.80 | -137.76 | -136.90 | -136.06 | -135.22 | -134.38 |
Weighted Average Cost Of Capital
| Share price | $ 5.71 |
|---|---|
| Beta | 1.858 |
| Diluted Shares Outstanding | 83.60 |
| Cost of Debt | |
| Tax Rate | -47.74 |
| After-tax Cost of Debt | 11.17% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.514 |
| Total Debt | 402.80 |
| Total Equity | 477.36 |
| Total Capital | 880.16 |
| Debt Weighting | 45.76 |
| Equity Weighting | 54.24 |
| 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 | 859.11 | 566.32 | 723.36 | 889.80 | 884.29 | 878.82 | 873.38 | 867.98 | 862.61 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -281.89 | -176.32 | -40.81 | -111.20 | -30.60 | -129.24 | -128.44 | -127.64 | -126.85 | -126.07 |
| Capital Expenditure | -5.47 | -3.80 | -8.23 | -6.68 | -13.20 | -8.52 | -8.47 | -8.42 | -8.36 | -8.31 |
| Free Cash Flow | -287.36 | -180.12 | -49.04 | -117.87 | -43.80 | -137.76 | -136.90 | -136.06 | -135.22 | -134.38 |
| WACC | ||||||||||
| PV LFCF | -123.11 | -109.33 | -97.10 | -86.24 | -76.59 | |||||
| SUM PV LFCF | -492.38 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.90 |
| Free cash flow (t + 1) | -137.07 |
| Terminal Value | -1,384.51 |
| Present Value of Terminal Value | -789.12 |
Intrinsic Value
| Enterprise Value | -1,281.50 |
|---|---|
| Net Debt | 326.10 |
| Equity Value | -1,607.60 |
| Shares Outstanding | 83.60 |
| Equity Value Per Share | -19.23 |