Discounted Cash Flow (DCF) Analysis Levered
Dominion Energy, Inc. (D)
$82.21
-0.45 (-0.54%)
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 | 12,586 | 13,366 | 16,572 | 14,172 | 13,964 | 14,460.90 | 14,975.48 | 15,508.36 | 16,060.22 | 16,631.70 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 4,549 | 4,773 | 5,204 | 5,227 | 4,037 | 4,889.18 | 5,063.16 | 5,243.33 | 5,429.91 | 5,623.12 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -5,504 | -4,254 | -4,980 | -6,020 | -5,960 | -5,517.36 | -5,713.69 | -5,917 | -6,127.56 | -6,345.60 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -955 | 519 | 224 | -793 | -1,923 | -628.18 | -650.53 | -673.68 | -697.65 | -722.47 |
Weighted Average Cost Of Capital
| Share price | $ 82.21 |
|---|---|
| Beta | 0.421 |
| Diluted Shares Outstanding | 810 |
| Cost of Debt | |
| Tax Rate | -6.13 |
| After-tax Cost of Debt | 3.34% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.842 |
| Total Debt | 40,581 |
| Total Equity | 66,590.10 |
| Total Capital | 107,171.10 |
| Debt Weighting | 37.87 |
| Equity Weighting | 62.13 |
| 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 | 12,586 | 13,366 | 16,572 | 14,172 | 13,964 | 14,460.90 | 14,975.48 | 15,508.36 | 16,060.22 | 16,631.70 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 4,549 | 4,773 | 5,204 | 5,227 | 4,037 | 4,889.18 | 5,063.16 | 5,243.33 | 5,429.91 | 5,623.12 |
| Capital Expenditure | -5,504 | -4,254 | -4,980 | -6,020 | -5,960 | -5,517.36 | -5,713.69 | -5,917 | -6,127.56 | -6,345.60 |
| Free Cash Flow | -955 | 519 | 224 | -793 | -1,923 | -628.18 | -650.53 | -673.68 | -697.65 | -722.47 |
| WACC | ||||||||||
| PV LFCF | -602.45 | -598.34 | -594.26 | -590.20 | -586.17 | |||||
| SUM PV LFCF | -2,971.42 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.27 |
| Free cash flow (t + 1) | -736.92 |
| Terminal Value | -32,463.61 |
| Present Value of Terminal Value | -26,339.04 |
Intrinsic Value
| Enterprise Value | -29,310.46 |
|---|---|
| Net Debt | 40,298 |
| Equity Value | -69,608.46 |
| Shares Outstanding | 810 |
| Equity Value Per Share | -85.94 |