Discounted Cash Flow (DCF) Analysis Levered
Coca-Cola Bottlers Japan Holdings I... (CCOJY)
$5.2055
+0.08 (+1.65%)
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 | 872,623 | 927,307 | 914,783 | 791,956 | 785,837 | 767,598.71 | 749,783.71 | 732,382.18 | 715,384.51 | 698,781.34 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 72,450 | 51,244 | 42,629 | 43,716 | 35,982 | 43,887.44 | 42,868.87 | 41,873.94 | 40,902.10 | 39,952.81 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | -49,752 | -78,213 | -67,565 | -39,263 | -52,662.74 | -51,440.50 | -50,246.63 | -49,080.47 | -47,941.38 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 72,450 | 1,492 | -35,584.01 | -23,848.99 | -3,281 | -8,775.30 | -8,571.63 | -8,372.70 | -8,178.38 | -7,988.57 |
Weighted Average Cost Of Capital
| Share price | $ 5.2,055 |
|---|---|
| Beta | 0.374 |
| Diluted Shares Outstanding | 358.69 |
| Cost of Debt | |
| Tax Rate | 88.45 |
| After-tax Cost of Debt | 0.06% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.296 |
| Total Debt | 214,124 |
| Total Equity | 1,867.17 |
| Total Capital | 215,991.17 |
| Debt Weighting | 99.14 |
| Equity Weighting | 0.86 |
| 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 | 872,623 | 927,307 | 914,783 | 791,956 | 785,837 | 767,598.71 | 749,783.71 | 732,382.18 | 715,384.51 | 698,781.34 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 72,450 | 51,244 | 42,629 | 43,716 | 35,982 | 43,887.44 | 42,868.87 | 41,873.94 | 40,902.10 | 39,952.81 |
| Capital Expenditure | - | -49,752 | -78,213 | -67,565 | -39,263 | -52,662.74 | -51,440.50 | -50,246.63 | -49,080.47 | -47,941.38 |
| Free Cash Flow | 72,450 | 1,492 | -35,584.01 | -23,848.99 | -3,281 | -8,775.30 | -8,571.63 | -8,372.70 | -8,178.38 | -7,988.57 |
| WACC | ||||||||||
| PV LFCF | -8,766.53 | -8,554.51 | -8,347.63 | -8,145.74 | -7,948.74 | |||||
| SUM PV LFCF | -41,763.16 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 0.10 |
| Free cash flow (t + 1) | -8,148.34 |
| Terminal Value | 428,859.86 |
| Present Value of Terminal Value | 426,721.98 |
Intrinsic Value
| Enterprise Value | 384,958.82 |
|---|---|
| Net Debt | 103,627 |
| Equity Value | 281,331.82 |
| Shares Outstanding | 358.69 |
| Equity Value Per Share | 784.33 |