Discounted Cash Flow (DCF) Analysis Levered
Digital Realty Trust, Inc. (DLR)
$98.89
+6.67 (+7.23%)
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 | 3,046.48 | 3,209.24 | 3,903.61 | 4,427.88 | 4,691.83 | 5,235.74 | 5,842.71 | 6,520.04 | 7,275.88 | 8,119.35 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,385.32 | 1,513.82 | 1,706.54 | 1,702.23 | 1,659.39 | 2,200.81 | 2,455.94 | 2,740.65 | 3,058.37 | 3,412.91 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 2,200.81 | 2,455.94 | 2,740.65 | 3,058.37 | 3,412.91 |
Weighted Average Cost Of Capital
Share price | $ 98.89 |
---|---|
Beta | 0.544 |
Diluted Shares Outstanding | 297.92 |
Cost of Debt | |
Tax Rate | 8.30 |
After-tax Cost of Debt | 1.52% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 6.379 |
Total Debt | 18,067.85 |
Total Equity | 29,461.21 |
Total Capital | 47,529.06 |
Debt Weighting | 38.01 |
Equity Weighting | 61.99 |
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 | 3,046.48 | 3,209.24 | 3,903.61 | 4,427.88 | 4,691.83 | 5,235.74 | 5,842.71 | 6,520.04 | 7,275.88 | 8,119.35 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,385.32 | 1,513.82 | 1,706.54 | 1,702.23 | 1,659.39 | 2,200.81 | 2,455.94 | 2,740.65 | 3,058.37 | 3,412.91 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 2,200.81 | 2,455.94 | 2,740.65 | 3,058.37 | 3,412.91 |
WACC | ||||||||||
PV LFCF | 2,105.43 | 2,247.69 | 2,399.56 | 2,561.69 | 2,734.77 | |||||
SUM PV LFCF | 12,049.13 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.53 |
Free cash flow (t + 1) | 3,481.17 |
Terminal Value | 137,595.73 |
Present Value of Terminal Value | 110,255.49 |
Intrinsic Value
Enterprise Value | 122,304.62 |
---|---|
Net Debt | 17,926.07 |
Equity Value | 104,378.54 |
Shares Outstanding | 297.92 |
Equity Value Per Share | 350.36 |