Discounted Cash Flow (DCF) Analysis Levered
Callon Petroleum Company (CPE)
$30.26
-0.40 (-1.30%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 587.62 | 671.57 | 1,033.15 | 2,045.03 | 3,230.96 | 5,040.78 | 7,864.36 | 12,269.56 | 19,142.32 | 29,864.84 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 467.65 | 476.32 | 559.77 | 974.14 | 1,501.52 | 3,012.35 | 4,699.72 | 7,332.25 | 11,439.39 | 17,847.13 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -611.17 | -640.54 | -677.15 | -1,072.22 | -992.98 | -3,509.32 | -5,475.06 | -8,541.91 | -13,326.63 | -20,791.51 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -143.52 | -164.22 | -117.38 | -98.08 | 508.53 | -496.97 | -775.35 | -1,209.66 | -1,887.24 | -2,944.38 |
Weighted Average Cost Of Capital
Share price | $ 30.26 |
---|---|
Beta | 2.711 |
Diluted Shares Outstanding | 61.90 |
Cost of Debt | |
Tax Rate | 0.97 |
After-tax Cost of Debt | 3.52% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 16.200 |
Total Debt | 2,241.30 |
Total Equity | 1,873.22 |
Total Capital | 4,114.51 |
Debt Weighting | 54.47 |
Equity Weighting | 45.53 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 587.62 | 671.57 | 1,033.15 | 2,045.03 | 3,230.96 | 5,040.78 | 7,864.36 | 12,269.56 | 19,142.32 | 29,864.84 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 467.65 | 476.32 | 559.77 | 974.14 | 1,501.52 | 3,012.35 | 4,699.72 | 7,332.25 | 11,439.39 | 17,847.13 |
Capital Expenditure | -611.17 | -640.54 | -677.15 | -1,072.22 | -992.98 | -3,509.32 | -5,475.06 | -8,541.91 | -13,326.63 | -20,791.51 |
Free Cash Flow | -143.52 | -164.22 | -117.38 | -98.08 | 508.53 | -496.97 | -775.35 | -1,209.66 | -1,887.24 | -2,944.38 |
WACC | ||||||||||
PV LFCF | -291.64 | -416.33 | -594.32 | -848.41 | -1,211.13 | |||||
SUM PV LFCF | -5,241.75 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.29 |
Free cash flow (t + 1) | -3,003.27 |
Terminal Value | -41,197.08 |
Present Value of Terminal Value | -26,421.92 |
Intrinsic Value
Enterprise Value | -31,663.67 |
---|---|
Net Debt | 2,237.90 |
Equity Value | -33,901.57 |
Shares Outstanding | 61.90 |
Equity Value Per Share | -547.65 |