Discounted Cash Flow (DCF) Analysis Levered
D.R. Horton, Inc. (DHI)
$111.42
-0.60 (-0.54%)
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 | 16,068 | 17,592.90 | 20,311.10 | 27,774.20 | 33,480 | 40,362.51 | 48,659.86 | 58,662.91 | 70,722.29 | 85,260.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 545.20 | 892.10 | 1,421.60 | 534.40 | 561.80 | 1,539.03 | 1,855.41 | 2,236.83 | 2,696.66 | 3,251.01 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | 222.70 | 46.90 | -286.80 | -267.40 | -148.20 | -94.04 | -113.37 | -136.67 | -164.77 | -198.64 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 767.90 | 939 | 1,134.80 | 267 | 413.60 | 1,445 | 1,742.04 | 2,100.16 | 2,531.89 | 3,052.37 |
Weighted Average Cost Of Capital
| Share price | $ 111.42 |
|---|---|
| Beta | 1.529 |
| Diluted Shares Outstanding | 365.80 |
| Cost of Debt | |
| Tax Rate | 23.23 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.909 |
| Total Debt | 6,114.80 |
| Total Equity | 40,757.44 |
| Total Capital | 46,872.24 |
| Debt Weighting | 13.05 |
| Equity Weighting | 86.95 |
| 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 | 16,068 | 17,592.90 | 20,311.10 | 27,774.20 | 33,480 | 40,362.51 | 48,659.86 | 58,662.91 | 70,722.29 | 85,260.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 545.20 | 892.10 | 1,421.60 | 534.40 | 561.80 | 1,539.03 | 1,855.41 | 2,236.83 | 2,696.66 | 3,251.01 |
| Capital Expenditure | 222.70 | 46.90 | -286.80 | -267.40 | -148.20 | -94.04 | -113.37 | -136.67 | -164.77 | -198.64 |
| Free Cash Flow | 767.90 | 939 | 1,134.80 | 267 | 413.60 | 1,445 | 1,742.04 | 2,100.16 | 2,531.89 | 3,052.37 |
| WACC | ||||||||||
| PV LFCF | - | - | - | - | - | |||||
| SUM PV LFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | 3,113.42 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | 3,574.30 |
| Equity Value | - |
| Shares Outstanding | 365.80 |
| Equity Value Per Share | - |