Discounted Cash Flow (DCF) Analysis Levered
EOG Resources, Inc. (EOG)
$128.93
+1.15 (+0.90%)
All numbers are in Millions, Currency in USD
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 | 11,205.98 | 17,176.84 | 16,941.73 | 9,873.24 | 19,669 | 25,048.81 | 31,900.10 | 40,625.33 | 51,737.07 | 65,888.05 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 4,265.34 | 7,768.61 | 8,163.18 | 5,007.78 | 8,791 | 11,366.63 | 14,475.60 | 18,434.93 | 23,477.20 | 29,898.63 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -4,124.24 | -6,076.47 | -6,422.53 | -3,464.70 | -3,850 | -8,253.84 | -10,511.41 | -13,386.47 | -17,047.90 | -21,710.80 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 141.09 | 1,692.13 | 1,740.65 | 1,543.08 | 4,941 | 3,112.79 | 3,964.19 | 5,048.46 | 6,429.30 | 8,187.83 |
Weighted Average Cost Of Capital
| Share price | $ 128.93 |
|---|---|
| Beta | 1.517 |
| Diluted Shares Outstanding | 584 |
| Cost of Debt | |
| Tax Rate | 21.39 |
| After-tax Cost of Debt | 2.37% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.802 |
| Total Debt | 5,907 |
| Total Equity | 75,295.12 |
| Total Capital | 81,202.12 |
| Debt Weighting | 7.27 |
| Equity Weighting | 92.73 |
| 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 | 11,205.98 | 17,176.84 | 16,941.73 | 9,873.24 | 19,669 | 25,048.81 | 31,900.10 | 40,625.33 | 51,737.07 | 65,888.05 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 4,265.34 | 7,768.61 | 8,163.18 | 5,007.78 | 8,791 | 11,366.63 | 14,475.60 | 18,434.93 | 23,477.20 | 29,898.63 |
| Capital Expenditure | -4,124.24 | -6,076.47 | -6,422.53 | -3,464.70 | -3,850 | -8,253.84 | -10,511.41 | -13,386.47 | -17,047.90 | -21,710.80 |
| Free Cash Flow | 141.09 | 1,692.13 | 1,740.65 | 1,543.08 | 4,941 | 3,112.79 | 3,964.19 | 5,048.46 | 6,429.30 | 8,187.83 |
| WACC | ||||||||||
| PV LFCF | 2,824.93 | 3,264.90 | 3,773.40 | 4,361.09 | 5,040.32 | |||||
| SUM PV LFCF | 19,264.63 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.19 |
| Free cash flow (t + 1) | 8,351.58 |
| Terminal Value | 101,972.95 |
| Present Value of Terminal Value | 62,773.17 |
Intrinsic Value
| Enterprise Value | 82,037.80 |
|---|---|
| Net Debt | 698 |
| Equity Value | 81,339.80 |
| Shares Outstanding | 584 |
| Equity Value Per Share | 139.28 |