Discounted Cash Flow (DCF) Analysis Levered
Crown Holdings, Inc. (CCK)
$88.45
-0.32 (-0.36%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 8,698 | 11,151 | 11,665 | 11,575 | 11,394 | 12,262.11 | 13,196.36 | 14,201.80 | 15,283.84 | 16,448.31 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 760 | 571 | 1,163 | 1,315 | 905 | 1,057.77 | 1,138.36 | 1,225.10 | 1,318.44 | 1,418.89 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -498 | -462 | -432 | -587 | -816 | -632.85 | -681.06 | -732.95 | -788.80 | -848.89 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 262 | 109 | 731 | 728 | 89 | 424.93 | 457.30 | 492.14 | 529.64 | 569.99 |
Weighted Average Cost Of Capital
Share price | $ 88.45 |
---|---|
Beta | 1.077 |
Diluted Shares Outstanding | 131.35 |
Cost of Debt | |
Tax Rate | -33.65 |
After-tax Cost of Debt | 4.04% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.603 |
Total Debt | 6,262 |
Total Equity | 11,617.74 |
Total Capital | 17,879.74 |
Debt Weighting | 35.02 |
Equity Weighting | 64.98 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 8,698 | 11,151 | 11,665 | 11,575 | 11,394 | 12,262.11 | 13,196.36 | 14,201.80 | 15,283.84 | 16,448.31 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 760 | 571 | 1,163 | 1,315 | 905 | 1,057.77 | 1,138.36 | 1,225.10 | 1,318.44 | 1,418.89 |
Capital Expenditure | -498 | -462 | -432 | -587 | -816 | -632.85 | -681.06 | -732.95 | -788.80 | -848.89 |
Free Cash Flow | 262 | 109 | 731 | 728 | 89 | 424.93 | 457.30 | 492.14 | 529.64 | 569.99 |
WACC | ||||||||||
PV LFCF | 397.09 | 399.35 | 401.62 | 403.91 | 406.21 | |||||
SUM PV LFCF | 2,008.18 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.01 |
Free cash flow (t + 1) | 581.39 |
Terminal Value | 11,604.66 |
Present Value of Terminal Value | 8,270.10 |
Intrinsic Value
Enterprise Value | 10,278.28 |
---|---|
Net Debt | 5,731 |
Equity Value | 4,547.28 |
Shares Outstanding | 131.35 |
Equity Value Per Share | 34.62 |