Discounted Cash Flow (DCF) Analysis Levered
Deere & Company (DE)
$410.9
+4.84 (+1.19%)
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 | 37,354.70 | 39,281 | 35,259 | 43,582 | 52,577 | 57,724.59 | 63,376.16 | 69,581.05 | 76,393.44 | 83,872.80 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,820.30 | 3,412 | 7,483 | 7,726 | 4,699 | 7,094 | 7,788.55 | 8,551.09 | 9,388.29 | 10,307.46 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2,950.10 | -3,449 | -2,656 | -2,580 | -3,788 | -4,310.32 | -4,732.33 | -5,195.65 | -5,704.33 | -6,262.82 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1,129.80 | -37 | 4,827 | 5,146 | 911 | 2,783.68 | 3,056.22 | 3,355.44 | 3,683.96 | 4,044.64 |
Weighted Average Cost Of Capital
| Share price | $ 410.9 |
|---|---|
| Beta | 1.091 |
| Diluted Shares Outstanding | 314 |
| Cost of Debt | |
| Tax Rate | 21.87 |
| After-tax Cost of Debt | 3.91% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.770 |
| Total Debt | 51,899 |
| Total Equity | 129,022.60 |
| Total Capital | 180,921.60 |
| Debt Weighting | 28.69 |
| Equity Weighting | 71.31 |
| 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 | 37,354.70 | 39,281 | 35,259 | 43,582 | 52,577 | 57,724.59 | 63,376.16 | 69,581.05 | 76,393.44 | 83,872.80 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,820.30 | 3,412 | 7,483 | 7,726 | 4,699 | 7,094 | 7,788.55 | 8,551.09 | 9,388.29 | 10,307.46 |
| Capital Expenditure | -2,950.10 | -3,449 | -2,656 | -2,580 | -3,788 | -4,310.32 | -4,732.33 | -5,195.65 | -5,704.33 | -6,262.82 |
| Free Cash Flow | -1,129.80 | -37 | 4,827 | 5,146 | 911 | 2,783.68 | 3,056.22 | 3,355.44 | 3,683.96 | 4,044.64 |
| WACC | ||||||||||
| PV LFCF | 1,815.85 | 1,856.61 | 1,898.29 | 1,940.90 | 1,984.47 | |||||
| SUM PV LFCF | 13,556.99 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.38 |
| Free cash flow (t + 1) | 4,125.53 |
| Terminal Value | 76,682.72 |
| Present Value of Terminal Value | 53,713.13 |
Intrinsic Value
| Enterprise Value | 67,270.13 |
|---|---|
| Net Debt | 47,125 |
| Equity Value | 20,145.13 |
| Shares Outstanding | 314 |
| Equity Value Per Share | 64.16 |