Discounted Cash Flow (DCF) Analysis Levered
Flowserve Corporation (FLS)
$33.97
0.00 (0.00%)
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 | 3,832.67 | 3,944.85 | 3,728.13 | 3,541.06 | 3,615.12 | 3,565.48 | 3,516.51 | 3,468.22 | 3,420.59 | 3,373.62 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 190.83 | 312.74 | 310.54 | 250.12 | -40.01 | 193.91 | 191.25 | 188.62 | 186.03 | 183.48 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -83.99 | -66.17 | -57.40 | -54.94 | -76.29 | -64.68 | -63.79 | -62.92 | -62.05 | -61.20 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 106.84 | 246.57 | 253.13 | 195.18 | -116.30 | 129.23 | 127.46 | 125.71 | 123.98 | 122.28 |
Weighted Average Cost Of Capital
| Share price | $ 33.97 |
|---|---|
| Beta | 1.625 |
| Diluted Shares Outstanding | 131.31 |
| Cost of Debt | |
| Tax Rate | -22.23 |
| After-tax Cost of Debt | 3.16% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.371 |
| Total Debt | 1,461.21 |
| Total Equity | 4,460.77 |
| Total Capital | 5,921.98 |
| Debt Weighting | 24.67 |
| Equity Weighting | 75.33 |
| 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 | 3,832.67 | 3,944.85 | 3,728.13 | 3,541.06 | 3,615.12 | 3,565.48 | 3,516.51 | 3,468.22 | 3,420.59 | 3,373.62 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 190.83 | 312.74 | 310.54 | 250.12 | -40.01 | 193.91 | 191.25 | 188.62 | 186.03 | 183.48 |
| Capital Expenditure | -83.99 | -66.17 | -57.40 | -54.94 | -76.29 | -64.68 | -63.79 | -62.92 | -62.05 | -61.20 |
| Free Cash Flow | 106.84 | 246.57 | 253.13 | 195.18 | -116.30 | 129.23 | 127.46 | 125.71 | 123.98 | 122.28 |
| WACC | ||||||||||
| PV LFCF | 98.84 | 89.14 | 80.40 | 72.52 | 65.41 | |||||
| SUM PV LFCF | 485.84 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.35 |
| Free cash flow (t + 1) | 124.72 |
| Terminal Value | 1,696.93 |
| Present Value of Terminal Value | 1,085.35 |
Intrinsic Value
| Enterprise Value | 1,571.19 |
|---|---|
| Net Debt | 1,026.24 |
| Equity Value | 544.95 |
| Shares Outstanding | 131.31 |
| Equity Value Per Share | 4.15 |