Discounted Cash Flow (DCF) Analysis Levered
Donaldson Company, Inc. (DCI)
$61.49
+2.15 (+3.62%)
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 | 2,734.20 | 2,844.90 | 2,581.80 | 2,853.90 | 3,306.60 | 3,481.87 | 3,666.43 | 3,860.77 | 4,065.41 | 4,280.90 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 262.90 | 345.80 | 387 | 401.90 | 252.80 | 407.29 | 428.88 | 451.61 | 475.55 | 500.76 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -97.50 | -150.70 | -124.40 | -59 | -85.50 | -127.68 | -134.44 | -141.57 | -149.08 | -156.98 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 165.40 | 195.10 | 262.60 | 342.90 | 167.30 | 279.62 | 294.44 | 310.04 | 326.48 | 343.78 |
Weighted Average Cost Of Capital
Share price | $ 61.49 |
---|---|
Beta | 1.209 |
Diluted Shares Outstanding | 125.20 |
Cost of Debt | |
Tax Rate | 24.09 |
After-tax Cost of Debt | 1.75% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.489 |
Total Debt | 648 |
Total Equity | 7,698.55 |
Total Capital | 8,346.55 |
Debt Weighting | 7.76 |
Equity Weighting | 92.24 |
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 | 2,734.20 | 2,844.90 | 2,581.80 | 2,853.90 | 3,306.60 | 3,481.87 | 3,666.43 | 3,860.77 | 4,065.41 | 4,280.90 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 262.90 | 345.80 | 387 | 401.90 | 252.80 | 407.29 | 428.88 | 451.61 | 475.55 | 500.76 |
Capital Expenditure | -97.50 | -150.70 | -124.40 | -59 | -85.50 | -127.68 | -134.44 | -141.57 | -149.08 | -156.98 |
Free Cash Flow | 165.40 | 195.10 | 262.60 | 342.90 | 167.30 | 279.62 | 294.44 | 310.04 | 326.48 | 343.78 |
WACC | ||||||||||
PV LFCF | 182.65 | 176.63 | 170.81 | 165.18 | 159.73 | |||||
SUM PV LFCF | 1,202.03 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.89 |
Free cash flow (t + 1) | 350.66 |
Terminal Value | 5,089.38 |
Present Value of Terminal Value | 3,324.49 |
Intrinsic Value
Enterprise Value | 4,526.52 |
---|---|
Net Debt | 454.70 |
Equity Value | 4,071.82 |
Shares Outstanding | 125.20 |
Equity Value Per Share | 32.52 |