Discounted Cash Flow (DCF) Analysis Levered

Carborundum Universal Limited (CARBORUNIV.NS)

1083.15 ₹

-14.75 (-1.34%)
All numbers are in Millions, Currency in USD
Stock DCF: 540.95 | 1083.15 | overvalue

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 26,556.1125,693.6126,041.3232,896.1446,010.4053,405.8861,990.0771,954.0383,519.5696,944.07
Revenue (%)
Operating Cash Flow 2,018.284,068.584,507.592,445.294,301.706,144.587,132.238,278.639,609.2911,153.84
Operating Cash Flow (%)
Capital Expenditure -962.06-1,291.24-1,064.41-5,611.20-3,017.40-3,882.72-4,506.81-5,231.21-6,072.05-7,048.04
Capital Expenditure (%)
Free Cash Flow 1,056.222,777.343,443.18-3,165.911,284.302,261.862,625.423,047.423,537.244,105.80

Weighted Average Cost Of Capital

Share price $ 1,083.15
Beta 0.650
Diluted Shares Outstanding 190.39
Cost of Debt
Tax Rate 28.61
After-tax Cost of Debt 6.06%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.371
Total Debt 2,772.50
Total Equity 206,222.13
Total Capital 208,994.63
Debt Weighting 1.33
Equity Weighting 98.67
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 26,556.1125,693.6126,041.3232,896.1446,010.4053,405.8861,990.0771,954.0383,519.5696,944.07
Operating Cash Flow 2,018.284,068.584,507.592,445.294,301.706,144.587,132.238,278.639,609.2911,153.84
Capital Expenditure -962.06-1,291.24-1,064.41-5,611.20-3,017.40-3,882.72-4,506.81-5,231.21-6,072.05-7,048.04
Free Cash Flow 1,056.222,777.343,443.18-3,165.911,284.302,261.862,625.423,047.423,537.244,105.80
WACC
PV LFCF 1,477.931,598.031,727.891,868.302,020.12
SUM PV LFCF 12,392.05

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.35
Free cash flow (t + 1) 4,270.03
Terminal Value 127,463.65
Present Value of Terminal Value 89,407.95

Intrinsic Value

Enterprise Value 101,799.99
Net Debt -1,191.20
Equity Value 102,991.19
Shares Outstanding 190.39
Equity Value Per Share 540.95