Discounted Cash Flow (DCF) Analysis Levered

Charter Communications, Inc. (CHTR)

$ 657
-11.19 (-1.67%)
Stock DCF: -73,955.26 | 657 | overvalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 29,00341,58143,63445,76448,09755,105.3063,134.7872,334.2682,874.2194,949.96
Revenue (%)
Operating Cash Flow 8,04111,95411,76711,74814,56215,362.0417,600.4720,165.0723,103.3526,469.78
Operating Cash Flow (%)
Capital Expenditure -33,532-7,870-9,595-7,140-7,956-20,794.05-23,823.99-27,295.42-31,272.69-35,829.49
Capital Expenditure (%)
Free Cash Flow -25,4914,0842,1724,6086,606-5,432.01-6,223.52-7,130.36-8,169.33-9,359.70

Weighted Average Cost Of Capital

Share price $ 657
Beta 0.963
Diluted Shares Outstanding 209.27
Cost of Debt
Tax Rate 25.10
After-tax Cost of Debt 3.48%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.998
Total Debt 82,987
Total Equity 137,492.52
Total Capital 220,479.52
Debt Weighting 37.64
Equity Weighting 62.36
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 29,00341,58143,63445,76448,09755,105.3063,134.7872,334.2682,874.2194,949.96
Operating Cash Flow 8,04111,95411,76711,74814,56215,362.0417,600.4720,165.0723,103.3526,469.78
Capital Expenditure -33,532-7,870-9,595-7,140-7,956-20,794.05-23,823.99-27,295.42-31,272.69-35,829.49
Free Cash Flow -25,4914,0842,1724,6086,606-5,432.01-6,223.52-7,130.36-8,169.33-9,359.70
WACC
PV LFCF -5,170.88-5,639.54-6,150.68-6,708.14-7,316.13
SUM PV LFCF -30,985.38

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.05
Free cash flow (t + 1) -9,827.69
Terminal Value -19,655,372.83
Present Value of Terminal Value -15,363,883.40

Intrinsic Value

Enterprise Value -15,394,868.78
Net Debt 81,989
Equity Value -15,476,857.78
Shares Outstanding 209.27
Equity Value Per Share -73,955.26