Discounted Cash Flow (DCF) Analysis Levered
Duke Energy Corporation (DUK)
$91.52
-0.48 (-0.52%)
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 | 24,521 | 25,079 | 23,868 | 25,097 | 28,768 | 30,006.70 | 31,298.73 | 32,646.40 | 34,052.09 | 35,518.31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 7,186 | 8,209 | 8,856 | 8,290 | 5,927 | 9,168.65 | 9,563.43 | 9,975.22 | 10,404.73 | 10,852.74 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -9,389 | -11,122 | -9,907 | -9,715 | -11,367 | -12,144.75 | -12,667.69 | -13,213.13 | -13,782.07 | -14,375.50 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -2,203 | -2,913 | -1,051 | -1,425 | -5,440 | -2,976.11 | -3,104.25 | -3,237.91 | -3,377.33 | -3,522.75 |
Weighted Average Cost Of Capital
| Share price | $ 91.52 |
|---|---|
| Beta | 0.425 |
| Diluted Shares Outstanding | 770 |
| Cost of Debt | |
| Tax Rate | 37.47 |
| After-tax Cost of Debt | 2.01% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.750 |
| Total Debt | 76,043 |
| Total Equity | 70,470.40 |
| Total Capital | 146,513.40 |
| Debt Weighting | 51.90 |
| Equity Weighting | 48.10 |
| 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 | 24,521 | 25,079 | 23,868 | 25,097 | 28,768 | 30,006.70 | 31,298.73 | 32,646.40 | 34,052.09 | 35,518.31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 7,186 | 8,209 | 8,856 | 8,290 | 5,927 | 9,168.65 | 9,563.43 | 9,975.22 | 10,404.73 | 10,852.74 |
| Capital Expenditure | -9,389 | -11,122 | -9,907 | -9,715 | -11,367 | -12,144.75 | -12,667.69 | -13,213.13 | -13,782.07 | -14,375.50 |
| Free Cash Flow | -2,203 | -2,913 | -1,051 | -1,425 | -5,440 | -2,976.11 | -3,104.25 | -3,237.91 | -3,377.33 | -3,522.75 |
| WACC | ||||||||||
| PV LFCF | -2,378.01 | -2,389.36 | -2,400.78 | -2,412.24 | -2,423.76 | |||||
| SUM PV LFCF | -14,471.97 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.81 |
| Free cash flow (t + 1) | -3,593.21 |
| Terminal Value | -198,519.87 |
| Present Value of Terminal Value | -164,667.55 |
Intrinsic Value
| Enterprise Value | -179,139.52 |
|---|---|
| Net Debt | 75,634 |
| Equity Value | -254,773.52 |
| Shares Outstanding | 770 |
| Equity Value Per Share | -330.87 |