Discounted Cash Flow (DCF) Analysis Levered
Continental Resources, Inc. (CLR)
$59.93
+0.96 (+1.63%)
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 | 3,120.83 | 4,709.59 | 4,631.95 | 2,586.47 | 5,719.32 | 7,524.11 | 9,898.41 | 13,021.95 | 17,131.16 | 22,537.07 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2,079.11 | 3,456.01 | 3,115.69 | 1,422.30 | 3,973.85 | 4,992.08 | 6,567.38 | 8,639.79 | 11,366.16 | 14,952.86 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -21.26 | -73.75 | -77.54 | -105.99 | -4,997.59 | -1,435.59 | -1,888.61 | -2,484.58 | -3,268.61 | -4,300.06 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 2,057.85 | 3,382.26 | 3,038.15 | 1,316.32 | -1,023.73 | 3,556.49 | 4,678.77 | 6,155.21 | 8,097.54 | 10,652.80 |
Weighted Average Cost Of Capital
| Share price | $ 59.93 |
|---|---|
| Beta | 2.782 |
| Diluted Shares Outstanding | 364.45 |
| Cost of Debt | |
| Tax Rate | 24.02 |
| After-tax Cost of Debt | 2.80% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 15.960 |
| Total Debt | 6,844.37 |
| Total Equity | 21,841.67 |
| Total Capital | 28,686.03 |
| Debt Weighting | 23.86 |
| Equity Weighting | 76.14 |
| 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 | 3,120.83 | 4,709.59 | 4,631.95 | 2,586.47 | 5,719.32 | 7,524.11 | 9,898.41 | 13,021.95 | 17,131.16 | 22,537.07 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2,079.11 | 3,456.01 | 3,115.69 | 1,422.30 | 3,973.85 | 4,992.08 | 6,567.38 | 8,639.79 | 11,366.16 | 14,952.86 |
| Capital Expenditure | -21.26 | -73.75 | -77.54 | -105.99 | -4,997.59 | -1,435.59 | -1,888.61 | -2,484.58 | -3,268.61 | -4,300.06 |
| Free Cash Flow | 2,057.85 | 3,382.26 | 3,038.15 | 1,316.32 | -1,023.73 | 3,556.49 | 4,678.77 | 6,155.21 | 8,097.54 | 10,652.80 |
| WACC | ||||||||||
| PV LFCF | 3,152.36 | 3,675.87 | 4,286.32 | 4,998.15 | 5,828.19 | |||||
| SUM PV LFCF | 21,940.87 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.82 |
| Free cash flow (t + 1) | 10,865.86 |
| Terminal Value | 100,423.83 |
| Present Value of Terminal Value | 54,942.23 |
Intrinsic Value
| Enterprise Value | 76,883.11 |
|---|---|
| Net Debt | 6,823.50 |
| Equity Value | 70,059.61 |
| Shares Outstanding | 364.45 |
| Equity Value Per Share | 192.23 |