Discounted Cash Flow (DCF) Analysis Levered
Dana Incorporated (DAN)
$15.19
+0.80 (+5.56%)
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 | 7,209 | 8,143 | 8,620 | 7,106 | 8,945 | 9,551.68 | 10,199.52 | 10,891.29 | 11,629.98 | 12,418.77 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 554 | 568 | 637 | 386 | 158 | 558.74 | 596.64 | 637.10 | 680.31 | 726.46 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -393 | -325 | -426 | -326 | -369 | -441.24 | -471.17 | -503.12 | -537.25 | -573.69 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 161 | 243 | 211 | 60 | -211 | 117.50 | 125.47 | 133.98 | 143.07 | 152.77 |
Weighted Average Cost Of Capital
Share price | $ 15.19 |
---|---|
Beta | 2.313 |
Diluted Shares Outstanding | 144.50 |
Cost of Debt | |
Tax Rate | 19.26 |
After-tax Cost of Debt | 3.96% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 14.041 |
Total Debt | 2,669 |
Total Equity | 2,194.95 |
Total Capital | 4,863.95 |
Debt Weighting | 54.87 |
Equity Weighting | 45.13 |
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 | 7,209 | 8,143 | 8,620 | 7,106 | 8,945 | 9,551.68 | 10,199.52 | 10,891.29 | 11,629.98 | 12,418.77 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 554 | 568 | 637 | 386 | 158 | 558.74 | 596.64 | 637.10 | 680.31 | 726.46 |
Capital Expenditure | -393 | -325 | -426 | -326 | -369 | -441.24 | -471.17 | -503.12 | -537.25 | -573.69 |
Free Cash Flow | 161 | 243 | 211 | 60 | -211 | 117.50 | 125.47 | 133.98 | 143.07 | 152.77 |
WACC | ||||||||||
PV LFCF | 108.29 | 106.56 | 104.86 | 103.20 | 101.55 | |||||
SUM PV LFCF | 524.46 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.51 |
Free cash flow (t + 1) | 155.83 |
Terminal Value | 2,393.63 |
Present Value of Terminal Value | 1,591.14 |
Intrinsic Value
Enterprise Value | 2,115.60 |
---|---|
Net Debt | 2,401 |
Equity Value | -285.40 |
Shares Outstanding | 144.50 |
Equity Value Per Share | -1.98 |