Discounted Cash Flow (DCF) Analysis Levered
Ford Motor Company (F)
$12.5
-0.35 (-2.72%)
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 | 156,776 | 160,338 | 155,900 | 127,144 | 136,341 | 132,350.47 | 128,476.74 | 124,716.38 | 121,066.09 | 117,522.64 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 18,096 | 15,022 | 17,639 | 24,269 | 15,787 | 16,647.76 | 16,160.50 | 15,687.50 | 15,228.35 | 14,782.63 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -7,049 | -7,785 | -7,632 | -5,742 | -6,227 | -6,175.58 | -5,994.83 | -5,819.37 | -5,649.04 | -5,483.70 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 11,047 | 7,237 | 10,007 | 18,527 | 9,560 | 10,472.18 | 10,165.67 | 9,868.14 | 9,579.31 | 9,298.93 |
Weighted Average Cost Of Capital
| Share price | $ 12.5 |
|---|---|
| Beta | 1.147 |
| Diluted Shares Outstanding | 3,973 |
| Cost of Debt | |
| Tax Rate | -0.88 |
| After-tax Cost of Debt | 5.06% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.200 |
| Total Debt | 139,485 |
| Total Equity | 49,662.50 |
| Total Capital | 189,147.50 |
| Debt Weighting | 73.74 |
| Equity Weighting | 26.26 |
| 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 | 156,776 | 160,338 | 155,900 | 127,144 | 136,341 | 132,350.47 | 128,476.74 | 124,716.38 | 121,066.09 | 117,522.64 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 18,096 | 15,022 | 17,639 | 24,269 | 15,787 | 16,647.76 | 16,160.50 | 15,687.50 | 15,228.35 | 14,782.63 |
| Capital Expenditure | -7,049 | -7,785 | -7,632 | -5,742 | -6,227 | -6,175.58 | -5,994.83 | -5,819.37 | -5,649.04 | -5,483.70 |
| Free Cash Flow | 11,047 | 7,237 | 10,007 | 18,527 | 9,560 | 10,472.18 | 10,165.67 | 9,868.14 | 9,579.31 | 9,298.93 |
| WACC | ||||||||||
| PV LFCF | 9,890.61 | 9,067.93 | 8,313.68 | 7,622.17 | 6,988.17 | |||||
| SUM PV LFCF | 41,882.56 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.88 |
| Free cash flow (t + 1) | 9,484.91 |
| Terminal Value | 244,456.48 |
| Present Value of Terminal Value | 183,709.62 |
Intrinsic Value
| Enterprise Value | 225,592.17 |
|---|---|
| Net Debt | 118,945 |
| Equity Value | 106,647.17 |
| Shares Outstanding | 3,973 |
| Equity Value Per Share | 26.84 |