Discounted Cash Flow (DCF) Analysis Levered
Chubb Limited (CB)
$212.23
-0.85 (-0.40%)
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 | 32,717 | 34,230 | 35,994 | 40,963 | 43,124 | 46,235.23 | 49,570.92 | 53,147.27 | 56,981.64 | 61,092.65 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 5,480 | 6,342 | 9,785 | 11,149 | 11,243 | 10,703.55 | 11,475.76 | 12,303.70 | 13,191.36 | 14,143.07 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | 980 | 1,390 | 907 | 1,421 | 1,406.38 | 1,507.85 | 1,616.63 | 1,733.27 | 1,858.31 | 1,992.38 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 6,460 | 7,732 | 10,692 | 12,570 | 12,649.38 | 12,211.39 | 13,092.40 | 14,036.96 | 15,049.67 | 16,135.45 |
Weighted Average Cost Of Capital
| Share price | $ 212.23 |
|---|---|
| Beta | 0.648 |
| Diluted Shares Outstanding | 423.53 |
| Cost of Debt | |
| Tax Rate | 19.11 |
| After-tax Cost of Debt | 3.10% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.599 |
| Total Debt | 14,877 |
| Total Equity | 89,885.23 |
| Total Capital | 104,762.23 |
| Debt Weighting | 14.20 |
| Equity Weighting | 85.80 |
| 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 | 32,717 | 34,230 | 35,994 | 40,963 | 43,124 | 46,235.23 | 49,570.92 | 53,147.27 | 56,981.64 | 61,092.65 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 5,480 | 6,342 | 9,785 | 11,149 | 11,243 | 10,703.55 | 11,475.76 | 12,303.70 | 13,191.36 | 14,143.07 |
| Capital Expenditure | 980 | 1,390 | 907 | 1,421 | 1,406.38 | 1,507.85 | 1,616.63 | 1,733.27 | 1,858.31 | 1,992.38 |
| Free Cash Flow | 6,460 | 7,732 | 10,692 | 12,570 | 12,649.38 | 12,211.39 | 13,092.40 | 14,036.96 | 15,049.67 | 16,135.45 |
| WACC | ||||||||||
| PV LFCF | 11,416.78 | 11,443.96 | 11,471.20 | 11,498.51 | 11,525.88 | |||||
| SUM PV LFCF | 57,356.34 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.96 |
| Free cash flow (t + 1) | 16,458.16 |
| Terminal Value | 331,817.73 |
| Present Value of Terminal Value | 237,024.16 |
Intrinsic Value
| Enterprise Value | 294,380.50 |
|---|---|
| Net Debt | 12,865 |
| Equity Value | 281,515.50 |
| Shares Outstanding | 423.53 |
| Equity Value Per Share | 664.69 |