Discounted Cash Flow (DCF) Analysis Levered

Chubb Limited (CB)

$212.27

+0.64 (+0.30%)
All numbers are in Millions, Currency in USD
Stock DCF: 657.62 | 212.27 | undervalue

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 32,71734,23035,99440,96343,12446,235.2349,570.9253,147.2756,981.6461,092.65
Revenue (%)
Operating Cash Flow 5,4806,3429,78511,14911,24310,703.5511,475.7612,303.7013,191.3614,143.07
Operating Cash Flow (%)
Capital Expenditure 9801,3909071,4211,406.381,507.851,616.631,733.271,858.311,992.38
Capital Expenditure (%)
Free Cash Flow 6,4607,73210,69212,57012,649.3812,211.3913,092.4014,036.9615,049.6716,135.45

Weighted Average Cost Of Capital

Share price $ 212.27
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 7.654
Total Debt 14,877
Total Equity 89,902.17
Total Capital 104,779.17
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 32,71734,23035,99440,96343,12446,235.2349,570.9253,147.2756,981.6461,092.65
Operating Cash Flow 5,4806,3429,78511,14911,24310,703.5511,475.7612,303.7013,191.3614,143.07
Capital Expenditure 9801,3909071,4211,406.381,507.851,616.631,733.271,858.311,992.38
Free Cash Flow 6,4607,73210,69212,57012,649.3812,211.3913,092.4014,036.9615,049.6716,135.45
WACC
PV LFCF 11,411.4511,433.2711,455.1311,477.0311,498.98
SUM PV LFCF 57,275.86

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.01
Free cash flow (t + 1) 16,458.16
Terminal Value 328,506.18
Present Value of Terminal Value 234,110.95

Intrinsic Value

Enterprise Value 291,386.81
Net Debt 12,865
Equity Value 278,521.81
Shares Outstanding 423.53
Equity Value Per Share 657.62