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 |