Discounted Cash Flow (DCF) Analysis Levered
Flex Ltd. (FLEX)
$25.425
+0.20 (+0.77%)
All numbers are in Millions, Currency in USD
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 | 26,305.51 | 24,209.87 | 24,124 | 26,041 | 30,346 | 31,571.74 | 32,846.99 | 34,173.74 | 35,554.09 | 36,990.19 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -2,971.02 | -1,533.28 | 144 | 1,024 | 950 | -629.40 | -654.83 | -681.28 | -708.79 | -737.42 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -725.61 | -461.74 | -351 | -443 | -635 | -626.02 | -651.31 | -677.62 | -704.99 | -733.47 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -3,696.63 | -1,995.02 | -207 | 581 | 315 | -1,255.43 | -1,306.14 | -1,358.90 | -1,413.78 | -1,470.89 |
Weighted Average Cost Of Capital
| Share price | $ 25.425 |
|---|---|
| Beta | 1.449 |
| Diluted Shares Outstanding | 462 |
| Cost of Debt | |
| Tax Rate | 18.58 |
| After-tax Cost of Debt | 8.58% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.394 |
| Total Debt | 4,347 |
| Total Equity | 11,746.35 |
| Total Capital | 16,093.35 |
| Debt Weighting | 27.01 |
| Equity Weighting | 72.99 |
| 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 | 26,305.51 | 24,209.87 | 24,124 | 26,041 | 30,346 | 31,571.74 | 32,846.99 | 34,173.74 | 35,554.09 | 36,990.19 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -2,971.02 | -1,533.28 | 144 | 1,024 | 950 | -629.40 | -654.83 | -681.28 | -708.79 | -737.42 |
| Capital Expenditure | -725.61 | -461.74 | -351 | -443 | -635 | -626.02 | -651.31 | -677.62 | -704.99 | -733.47 |
| Free Cash Flow | -3,696.63 | -1,995.02 | -207 | 581 | 315 | -1,255.43 | -1,306.14 | -1,358.90 | -1,413.78 | -1,470.89 |
| WACC | ||||||||||
| PV LFCF | -1,134.80 | -1,067.19 | -1,003.62 | -943.82 | -887.60 | |||||
| SUM PV LFCF | -5,037.03 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.63 |
| Free cash flow (t + 1) | -1,500.31 |
| Terminal Value | -17,384.79 |
| Present Value of Terminal Value | -10,490.71 |
Intrinsic Value
| Enterprise Value | -15,527.74 |
|---|---|
| Net Debt | 1,053 |
| Equity Value | -16,580.74 |
| Shares Outstanding | 462 |
| Equity Value Per Share | -35.89 |