Discounted Cash Flow (DCF) Analysis Levered

The Chemours Company (CC)

$29.68

-0.10 (-0.34%)

All numbers are in Millions, Currency in USD

Stock DCF: 33.55 | 29.68 | 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	6,638	5,526	4,969	6,345	6,794	6,928.80	7,066.28	7,206.48	7,349.46	7,495.29
Revenue (%)
Operating Cash Flow	1,140	650	807	820	754	958.93	977.95	997.36	1,017.15	1,037.33
Operating Cash Flow (%)
Capital Expenditure	-498	-481	-267	-277	-307	-422.16	-430.54	-439.08	-447.79	-456.68
Capital Expenditure (%)
Free Cash Flow	642	169	540	543	447	536.77	547.42	558.28	569.36	580.65

Weighted Average Cost Of Capital

Share price	$ 29.68
Beta	1.884
Diluted Shares Outstanding	166.35
Cost of Debt
Tax Rate	22.00
After-tax Cost of Debt	3.33%
Risk-Free Rate
Market Risk Premium
Cost of Equity	12.447
Total Debt	3,813
Total Equity	4,937.16
Total Capital	8,750.16
Debt Weighting	43.58
Equity Weighting	56.42
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	6,638	5,526	4,969	6,345	6,794	6,928.80	7,066.28	7,206.48	7,349.46	7,495.29
Operating Cash Flow	1,140	650	807	820	754	958.93	977.95	997.36	1,017.15	1,037.33
Capital Expenditure	-498	-481	-267	-277	-307	-422.16	-430.54	-439.08	-447.79	-456.68
Free Cash Flow	642	169	540	543	447	536.77	547.42	558.28	569.36	580.65
WACC
PV LFCF						494.85	465.26	437.44	411.29	386.69
SUM PV LFCF										2,195.54

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	8.47
Free cash flow (t + 1)	592.27
Terminal Value	9,154.02
Present Value of Terminal Value	6,096.26

Intrinsic Value

Enterprise Value	8,291.81
Net Debt	2,711
Equity Value	5,580.81
Shares Outstanding	166.35
Equity Value Per Share	33.55