Discounted Cash Flow (DCF) Analysis Levered
Dover Corporation (DOV)
$143.5
-0.25 (-0.17%)
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 | 6,992.12 | 7,136.40 | 6,683.76 | 7,907.08 | 8,508.09 | 8,968.05 | 9,452.87 | 9,963.91 | 10,502.57 | 11,070.35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 789.19 | 945.31 | 1,104.81 | 1,115.86 | 805.72 | 1,159.48 | 1,222.17 | 1,288.24 | 1,357.88 | 1,431.29 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -170.99 | -186.80 | -165.69 | -171.46 | -220.96 | -220.75 | -232.69 | -245.27 | -258.53 | -272.50 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 618.20 | 758.50 | 939.12 | 944.40 | 584.76 | 938.73 | 989.48 | 1,042.97 | 1,099.36 | 1,158.79 |
Weighted Average Cost Of Capital
| Share price | $ 143.5 |
|---|---|
| Beta | 1.331 |
| Diluted Shares Outstanding | 143.59 |
| Cost of Debt | |
| Tax Rate | 17.25 |
| After-tax Cost of Debt | 2.62% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.758 |
| Total Debt | 3,678.28 |
| Total Equity | 20,605.88 |
| Total Capital | 24,284.17 |
| Debt Weighting | 15.15 |
| Equity Weighting | 84.85 |
| 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 | 6,992.12 | 7,136.40 | 6,683.76 | 7,907.08 | 8,508.09 | 8,968.05 | 9,452.87 | 9,963.91 | 10,502.57 | 11,070.35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 789.19 | 945.31 | 1,104.81 | 1,115.86 | 805.72 | 1,159.48 | 1,222.17 | 1,288.24 | 1,357.88 | 1,431.29 |
| Capital Expenditure | -170.99 | -186.80 | -165.69 | -171.46 | -220.96 | -220.75 | -232.69 | -245.27 | -258.53 | -272.50 |
| Free Cash Flow | 618.20 | 758.50 | 939.12 | 944.40 | 584.76 | 938.73 | 989.48 | 1,042.97 | 1,099.36 | 1,158.79 |
| WACC | ||||||||||
| PV LFCF | 857.05 | 824.78 | 793.73 | 763.85 | 735.09 | |||||
| SUM PV LFCF | 3,974.50 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.53 |
| Free cash flow (t + 1) | 1,181.96 |
| Terminal Value | 15,696.74 |
| Present Value of Terminal Value | 9,957.36 |
Intrinsic Value
| Enterprise Value | 13,931.86 |
|---|---|
| Net Debt | 3,297.42 |
| Equity Value | 10,634.44 |
| Shares Outstanding | 143.59 |
| Equity Value Per Share | 74.06 |