Discounted Cash Flow (DCF) Analysis Levered

Fidelity National Information Servi... (FIS)

$69.3

+0.18 (+0.26%)
All numbers are in Millions, Currency in USD
Stock DCF: -69.86 | 69.3 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 10,33312,55213,87714,5289,8219,927.1310,034.4110,142.8510,252.4610,363.26
Revenue (%)
Operating Cash Flow 2,4104,4424,8103,9394,3353,268.553,303.873,339.583,375.673,412.15
Operating Cash Flow (%)
Capital Expenditure -828-1,129-1,251-1,390-1,122-933.45-943.53-953.73-964.04-974.45
Capital Expenditure (%)
Free Cash Flow 1,5823,3133,5592,5493,2132,335.102,360.342,385.852,411.632,437.69

Weighted Average Cost Of Capital

Share price $ 69.3
Beta 0.972
Diluted Shares Outstanding 591
Cost of Debt
Tax Rate 1,103.62
After-tax Cost of Debt -43.72%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.944
Total Debt 19,341
Total Equity 40,956.30
Total Capital 60,297.30
Debt Weighting 32.08
Equity Weighting 67.92
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 10,33312,55213,87714,5289,8219,927.1310,034.4110,142.8510,252.4610,363.26
Operating Cash Flow 2,4104,4424,8103,9394,3353,268.553,303.873,339.583,375.673,412.15
Capital Expenditure -828-1,129-1,251-1,390-1,122-933.45-943.53-953.73-964.04-974.45
Free Cash Flow 1,5823,3133,5592,5493,2132,335.102,360.342,385.852,411.632,437.69
WACC
PV LFCF 2,536.782,785.653,058.943,359.043,688.58
SUM PV LFCF 15,428.99

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -7.95
Free cash flow (t + 1) 2,486.44
Terminal Value -24,989.39
Present Value of Terminal Value -37,812.61

Intrinsic Value

Enterprise Value -22,383.62
Net Debt 18,901
Equity Value -41,284.62
Shares Outstanding 591
Equity Value Per Share -69.86