Discounted Cash Flow (DCF) Analysis Levered
Enterprise Products Partners L.P. (EPD)
$24.94
-0.18 (-0.72%)
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 | 36,534.20 | 32,789.20 | 27,199.70 | 40,806.90 | 58,186 | 67,687.51 | 78,740.58 | 91,598.57 | 106,556.20 | 123,956.36 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 6,126.30 | 6,520.50 | 5,891.50 | 8,512 | 8,039 | 12,588.55 | 14,644.21 | 17,035.54 | 19,817.37 | 23,053.46 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -4,223.20 | -4,531.70 | -3,287.90 | -2,223 | -1,964 | -6,266.68 | -7,290 | -8,480.43 | -9,865.25 | -11,476.20 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,903.10 | 1,988.80 | 2,603.60 | 6,289 | 6,075 | 6,321.87 | 7,354.20 | 8,555.11 | 9,952.12 | 11,577.26 |
Weighted Average Cost Of Capital
| Share price | $ 24.94 |
|---|---|
| Beta | 1.054 |
| Diluted Shares Outstanding | 2,200.40 |
| Cost of Debt | |
| Tax Rate | 3.63 |
| After-tax Cost of Debt | 4.24% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.477 |
| Total Debt | 28,295 |
| Total Equity | 54,877.98 |
| Total Capital | 83,172.98 |
| Debt Weighting | 34.02 |
| Equity Weighting | 65.98 |
| 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 | 36,534.20 | 32,789.20 | 27,199.70 | 40,806.90 | 58,186 | 67,687.51 | 78,740.58 | 91,598.57 | 106,556.20 | 123,956.36 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 6,126.30 | 6,520.50 | 5,891.50 | 8,512 | 8,039 | 12,588.55 | 14,644.21 | 17,035.54 | 19,817.37 | 23,053.46 |
| Capital Expenditure | -4,223.20 | -4,531.70 | -3,287.90 | -2,223 | -1,964 | -6,266.68 | -7,290 | -8,480.43 | -9,865.25 | -11,476.20 |
| Free Cash Flow | 1,903.10 | 1,988.80 | 2,603.60 | 6,289 | 6,075 | 6,321.87 | 7,354.20 | 8,555.11 | 9,952.12 | 11,577.26 |
| WACC | ||||||||||
| PV LFCF | 5,906.08 | 6,418.65 | 6,975.69 | 7,581.08 | 8,239.01 | |||||
| SUM PV LFCF | 35,120.52 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.04 |
| Free cash flow (t + 1) | 11,808.80 |
| Terminal Value | 234,301.68 |
| Present Value of Terminal Value | 166,741.96 |
Intrinsic Value
| Enterprise Value | 201,862.48 |
|---|---|
| Net Debt | 28,219 |
| Equity Value | 173,643.48 |
| Shares Outstanding | 2,200.40 |
| Equity Value Per Share | 78.91 |