Discounted Cash Flow (DCF) Analysis Levered
Ford Motor Company (F)
$12.385
-0.04 (-0.36%)
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 | 160,338 | 155,900 | 127,144 | 136,341 | 158,057 | 158,826.81 | 159,600.37 | 160,377.69 | 161,158.80 | 161,943.72 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 15,022 | 17,639 | 24,269 | 15,787 | 6,853 | 17,688.83 | 17,774.98 | 17,861.55 | 17,948.55 | 18,035.96 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -7,785 | -7,632 | -5,742 | -6,227 | -6,866 | -7,362.63 | -7,398.49 | -7,434.53 | -7,470.74 | -7,507.12 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 7,237 | 10,007 | 18,527 | 9,560 | -13 | 10,326.19 | 10,376.49 | 10,427.03 | 10,477.81 | 10,528.84 |
Weighted Average Cost Of Capital
| Share price | $ 12.385 |
|---|---|
| Beta | 1.627 |
| Diluted Shares Outstanding | 4,014 |
| Cost of Debt | |
| Tax Rate | 28.65 |
| After-tax Cost of Debt | -0.33% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.307 |
| Total Debt | 140,474 |
| Total Equity | 49,713.39 |
| Total Capital | 190,187.39 |
| Debt Weighting | 73.86 |
| Equity Weighting | 26.14 |
| 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 | 160,338 | 155,900 | 127,144 | 136,341 | 158,057 | 158,826.81 | 159,600.37 | 160,377.69 | 161,158.80 | 161,943.72 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 15,022 | 17,639 | 24,269 | 15,787 | 6,853 | 17,688.83 | 17,774.98 | 17,861.55 | 17,948.55 | 18,035.96 |
| Capital Expenditure | -7,785 | -7,632 | -5,742 | -6,227 | -6,866 | -7,362.63 | -7,398.49 | -7,434.53 | -7,470.74 | -7,507.12 |
| Free Cash Flow | 7,237 | 10,007 | 18,527 | 9,560 | -13 | 10,326.19 | 10,376.49 | 10,427.03 | 10,477.81 | 10,528.84 |
| WACC | ||||||||||
| PV LFCF | 10,028.35 | 9,786.54 | 9,550.55 | 9,320.25 | 9,095.51 | |||||
| SUM PV LFCF | 47,781.20 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 2.97 |
| Free cash flow (t + 1) | 10,739.42 |
| Terminal Value | 1,107,156.60 |
| Present Value of Terminal Value | 956,435.06 |
Intrinsic Value
| Enterprise Value | 1,004,216.26 |
|---|---|
| Net Debt | 115,340 |
| Equity Value | 888,876.26 |
| Shares Outstanding | 4,014 |
| Equity Value Per Share | 221.44 |