Discounted Cash Flow (DCF) Analysis Levered
CEMEX, S.A.B. de C.V. (CX)
$6
-0.02 (-0.33%)
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 | 14,086.93 | 13,130 | 12,970 | 14,548 | 15,576.82 | 16,014.01 | 16,463.48 | 16,925.56 | 17,400.61 | 17,888.99 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,350.66 | 1,353 | 1,578 | 1,855 | 1,475 | 1,738.46 | 1,787.25 | 1,837.42 | 1,888.99 | 1,942 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -776.36 | -767 | -591 | -993 | -1,060 | -946.11 | -972.67 | -999.97 | -1,028.03 | -1,056.89 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 574.31 | 586 | 987 | 862 | 415 | 792.35 | 814.59 | 837.45 | 860.96 | 885.12 |
Weighted Average Cost Of Capital
Share price | $ 6 |
---|---|
Beta | 1.157 |
Diluted Shares Outstanding | 1,479.95 |
Cost of Debt | |
Tax Rate | -11.48 |
After-tax Cost of Debt | 5.00% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.098 |
Total Debt | - |
Total Equity | 8,879.71 |
Total Capital | 8,879.71 |
Debt Weighting | 0.00 |
Equity Weighting | 100.00 |
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 | 14,086.93 | 13,130 | 12,970 | 14,548 | 15,576.82 | 16,014.01 | 16,463.48 | 16,925.56 | 17,400.61 | 17,888.99 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,350.66 | 1,353 | 1,578 | 1,855 | 1,475 | 1,738.46 | 1,787.25 | 1,837.42 | 1,888.99 | 1,942 |
Capital Expenditure | -776.36 | -767 | -591 | -993 | -1,060 | -946.11 | -972.67 | -999.97 | -1,028.03 | -1,056.89 |
Free Cash Flow | 574.31 | 586 | 987 | 862 | 415 | 792.35 | 814.59 | 837.45 | 860.96 | 885.12 |
WACC | ||||||||||
PV LFCF | 726.26 | 684.37 | 644.89 | 607.69 | 572.64 | |||||
SUM PV LFCF | 3,235.84 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.10 |
Free cash flow (t + 1) | 902.82 |
Terminal Value | 12,715.80 |
Present Value of Terminal Value | 8,226.59 |
Intrinsic Value
Enterprise Value | 11,462.43 |
---|---|
Net Debt | -494.92 |
Equity Value | 11,957.35 |
Shares Outstanding | 1,479.95 |
Equity Value Per Share | 8.08 |