Discounted Cash Flow (DCF) Analysis Levered

Digital Realty Trust, Inc. (DLR)

$113.58

-1.63 (-1.41%)
All numbers are in Millions, Currency in USD
Stock DCF: 418.29 | 113.58 | undervalue

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 2,457.933,046.483,209.243,903.614,427.885,140.275,967.276,927.328,041.849,335.66
Revenue (%)
Operating Cash Flow 1,023.311,385.321,513.821,706.541,702.232,225.092,583.072,998.663,481.104,041.16
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----2,225.092,583.072,998.663,481.104,041.16

Weighted Average Cost Of Capital

Share price $ 113.58
Beta 0.513
Diluted Shares Outstanding 283.80
Cost of Debt
Tax Rate 6.10
After-tax Cost of Debt 1.87%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.043
Total Debt 14,960.40
Total Equity 32,233.95
Total Capital 47,194.35
Debt Weighting 31.70
Equity Weighting 68.30
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 2,457.933,046.483,209.243,903.614,427.885,140.275,967.276,927.328,041.849,335.66
Operating Cash Flow 1,023.311,385.321,513.821,706.541,702.232,225.092,583.072,998.663,481.104,041.16
Capital Expenditure ----------
Free Cash Flow -----2,225.092,583.072,998.663,481.104,041.16
WACC
PV LFCF 2,124.802,355.472,611.182,894.663,208.91
SUM PV LFCF 13,195.03

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.72
Free cash flow (t + 1) 4,121.98
Terminal Value 151,543.53
Present Value of Terminal Value 120,334.24

Intrinsic Value

Enterprise Value 133,529.27
Net Debt 14,817.70
Equity Value 118,711.57
Shares Outstanding 283.80
Equity Value Per Share 418.29