Discounted Cash Flow (DCF) Analysis Levered
DTE Energy Company (DTE)
$106.525
+0.01 (+0.01%)
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 | 14,212 | 12,669 | 12,177 | 14,964 | 19,228 | 20,989.38 | 22,912.11 | 25,010.97 | 27,302.10 | 29,803.10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2,680 | 2,649 | 3,697 | 3,067 | 1,977 | 4,235.86 | 4,623.89 | 5,047.46 | 5,509.83 | 6,014.56 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2,713 | -2,997 | -3,857 | -3,772 | -3,378 | -4,919.72 | -5,370.39 | -5,862.34 | -6,399.36 | -6,985.57 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -33 | -348 | -160 | -705 | -1,401 | -683.86 | -746.50 | -814.89 | -889.53 | -971.02 |
Weighted Average Cost Of Capital
| Share price | $ 106.525 |
|---|---|
| Beta | 0.597 |
| Diluted Shares Outstanding | 196 |
| Cost of Debt | |
| Tax Rate | 2.61 |
| After-tax Cost of Debt | 3.42% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.522 |
| Total Debt | 19,240 |
| Total Equity | 20,878.90 |
| Total Capital | 40,118.90 |
| Debt Weighting | 47.96 |
| Equity Weighting | 52.04 |
| 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 | 14,212 | 12,669 | 12,177 | 14,964 | 19,228 | 20,989.38 | 22,912.11 | 25,010.97 | 27,302.10 | 29,803.10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2,680 | 2,649 | 3,697 | 3,067 | 1,977 | 4,235.86 | 4,623.89 | 5,047.46 | 5,509.83 | 6,014.56 |
| Capital Expenditure | -2,713 | -2,997 | -3,857 | -3,772 | -3,378 | -4,919.72 | -5,370.39 | -5,862.34 | -6,399.36 | -6,985.57 |
| Free Cash Flow | -33 | -348 | -160 | -705 | -1,401 | -683.86 | -746.50 | -814.89 | -889.53 | -971.02 |
| WACC | ||||||||||
| PV LFCF | -651.11 | -676.71 | -703.33 | -730.99 | -759.73 | |||||
| SUM PV LFCF | -3,521.86 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.03 |
| Free cash flow (t + 1) | -990.44 |
| Terminal Value | -32,687.76 |
| Present Value of Terminal Value | -25,575.16 |
Intrinsic Value
| Enterprise Value | -29,097.02 |
|---|---|
| Net Debt | 19,207 |
| Equity Value | -48,304.02 |
| Shares Outstanding | 196 |
| Equity Value Per Share | -246.45 |