Discounted Cash Flow (DCF) Analysis Levered
Expeditors International of Washing... (EXPD)
$116.13
+0.62 (+0.54%)
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 | 8,138.36 | 8,175.43 | 10,116.48 | 16,523.52 | 17,071.28 | 20,948.41 | 25,706.10 | 31,544.32 | 38,708.48 | 47,499.72 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 572.80 | 771.94 | 655.01 | 868.49 | 2,129.67 | 1,704.63 | 2,091.78 | 2,566.85 | 3,149.82 | 3,865.19 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -47.47 | -47.02 | -47.54 | -36.25 | -86.82 | -98.73 | -121.15 | -148.66 | -182.43 | -223.86 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 525.33 | 724.91 | 607.47 | 832.25 | 2,042.85 | 1,605.91 | 1,970.63 | 2,418.19 | 2,967.39 | 3,641.33 |
Weighted Average Cost Of Capital
| Share price | $ 116.13 |
|---|---|
| Beta | 0.993 |
| Diluted Shares Outstanding | 164.43 |
| Cost of Debt | |
| Tax Rate | 26.06 |
| After-tax Cost of Debt | 3.32% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.379 |
| Total Debt | 518.47 |
| Total Equity | 19,094.91 |
| Total Capital | 19,613.37 |
| Debt Weighting | 2.64 |
| Equity Weighting | 97.36 |
| 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 | 8,138.36 | 8,175.43 | 10,116.48 | 16,523.52 | 17,071.28 | 20,948.41 | 25,706.10 | 31,544.32 | 38,708.48 | 47,499.72 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 572.80 | 771.94 | 655.01 | 868.49 | 2,129.67 | 1,704.63 | 2,091.78 | 2,566.85 | 3,149.82 | 3,865.19 |
| Capital Expenditure | -47.47 | -47.02 | -47.54 | -36.25 | -86.82 | -98.73 | -121.15 | -148.66 | -182.43 | -223.86 |
| Free Cash Flow | 525.33 | 724.91 | 607.47 | 832.25 | 2,042.85 | 1,605.91 | 1,970.63 | 2,418.19 | 2,967.39 | 3,641.33 |
| WACC | ||||||||||
| PV LFCF | 1,483.52 | 1,681.70 | 1,906.37 | 2,161.04 | 2,449.74 | |||||
| SUM PV LFCF | 9,682.38 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.25 |
| Free cash flow (t + 1) | 3,714.16 |
| Terminal Value | 59,426.55 |
| Present Value of Terminal Value | 39,979.83 |
Intrinsic Value
| Enterprise Value | 49,662.21 |
|---|---|
| Net Debt | -1,515.67 |
| Equity Value | 51,177.88 |
| Shares Outstanding | 164.43 |
| Equity Value Per Share | 311.25 |