Discounted Cash Flow (DCF) Analysis Levered

Dominion Energy, Inc. (D)

$82.21

-0.45 (-0.54%)
All numbers are in Millions, Currency in USD
Stock DCF: -85.94 | 82.21 | overvalue

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 12,58613,36616,57214,17213,96414,460.9014,975.4815,508.3616,060.2216,631.70
Revenue (%)
Operating Cash Flow 4,5494,7735,2045,2274,0374,889.185,063.165,243.335,429.915,623.12
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 -955519224-793-1,923-628.18-650.53-673.68-697.65-722.47

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 12,58613,36616,57214,17213,96414,460.9014,975.4815,508.3616,060.2216,631.70
Operating Cash Flow 4,5494,7735,2045,2274,0374,889.185,063.165,243.335,429.915,623.12
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 -955519224-793-1,923-628.18-650.53-673.68-697.65-722.47
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