Discounted Cash Flow (DCF) Analysis Levered

CEMEX, S.A.B. de C.V. (CX)

$7.84

+0.20 (+2.62%)
All numbers are in Millions, Currency in USD
Stock DCF: -Infinity | 7.84 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 13,13012,97014,54815,57717,415.6218,714.1620,109.5121,608.9023,220.0924,951.41
Revenue (%)
Operating Cash Flow 1,3531,5781,8551,4752,211.212,147.932,308.082,480.182,665.102,863.82
Operating Cash Flow (%)
Capital Expenditure -767-591-993-1,060-1,301.93-1,179.16-1,267.08-1,361.55-1,463.07-1,572.16
Capital Expenditure (%)
Free Cash Flow 586987862415909.28968.771,0411,118.621,202.031,291.65

Weighted Average Cost Of Capital

Share price $ 7.84
Beta 1.108
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 86.52
After-tax Cost of Debt 1.21%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.389
Total Debt 7,486.04
Total Equity -
Total Capital 7,486.04
Debt Weighting 100.00
Equity Weighting 0.00
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 13,13012,97014,54815,57717,415.6218,714.1620,109.5121,608.9023,220.0924,951.41
Operating Cash Flow 1,3531,5781,8551,4752,211.212,147.932,308.082,480.182,665.102,863.82
Capital Expenditure -767-591-993-1,060-1,301.93-1,179.16-1,267.08-1,361.55-1,463.07-1,572.16
Free Cash Flow 586987862415909.28968.771,0411,118.621,202.031,291.65
WACC
PV LFCF 957.191,016.261,078.981,145.571,216.27
SUM PV LFCF 5,414.27

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.21
Free cash flow (t + 1) 1,317.49
Terminal Value -166,770.43
Present Value of Terminal Value -157,036.97

Intrinsic Value

Enterprise Value -151,622.71
Net Debt 6,862.11
Equity Value -158,484.81
Shares Outstanding -
Equity Value Per Share -Infinity