Discounted Cash Flow (DCF) Analysis Levered
Permian Resources Corporation (CDEV)
$7.62
-0.61 (-%)
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 | 429.90 | 891.04 | 944.33 | 580.46 | 1,029.89 | 1,421.62 | 1,962.34 | 2,708.73 | 3,739.01 | 5,161.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 259.92 | 670.01 | 564.17 | 171.38 | 525.62 | 784.61 | 1,083.05 | 1,494.99 | 2,063.62 | 2,848.53 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1,006.89 | -1,216.81 | -967.72 | -328.01 | -327.05 | -1,596.53 | -2,203.78 | -3,042 | -4,199.04 | -5,796.17 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -746.98 | -546.80 | -403.55 | -156.64 | 198.57 | -811.91 | -1,120.73 | -1,547.01 | -2,135.42 | -2,947.64 |
Weighted Average Cost Of Capital
| Share price | $ 7.62 |
|---|---|
| Beta | 4.918 |
| Diluted Shares Outstanding | 316.21 |
| Cost of Debt | |
| Tax Rate | 0.41 |
| After-tax Cost of Debt | 6.65% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 26.831 |
| Total Debt | 842.98 |
| Total Equity | 2,409.51 |
| Total Capital | 3,252.49 |
| Debt Weighting | 25.92 |
| Equity Weighting | 74.08 |
| 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 | 429.90 | 891.04 | 944.33 | 580.46 | 1,029.89 | 1,421.62 | 1,962.34 | 2,708.73 | 3,739.01 | 5,161.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 259.92 | 670.01 | 564.17 | 171.38 | 525.62 | 784.61 | 1,083.05 | 1,494.99 | 2,063.62 | 2,848.53 |
| Capital Expenditure | -1,006.89 | -1,216.81 | -967.72 | -328.01 | -327.05 | -1,596.53 | -2,203.78 | -3,042 | -4,199.04 | -5,796.17 |
| Free Cash Flow | -746.98 | -546.80 | -403.55 | -156.64 | 198.57 | -811.91 | -1,120.73 | -1,547.01 | -2,135.42 | -2,947.64 |
| WACC | ||||||||||
| PV LFCF | -251.14 | -285.08 | -323.61 | -367.35 | -417 | |||||
| SUM PV LFCF | -4,371.37 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 21.60 |
| Free cash flow (t + 1) | -3,006.60 |
| Terminal Value | -15,339.78 |
| Present Value of Terminal Value | -5,769.67 |
Intrinsic Value
| Enterprise Value | -10,141.04 |
|---|---|
| Net Debt | 833.60 |
| Equity Value | -10,974.64 |
| Shares Outstanding | 316.21 |
| Equity Value Per Share | -34.71 |