Discounted Cash Flow (DCF) Analysis Levered
FMC Corporation (FMC)
$67.04
-0.89 (-1.31%)
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 | 4,285.30 | 4,609.80 | 4,642.10 | 5,045.20 | 5,802.30 | 6,265.95 | 6,766.64 | 7,307.35 | 7,891.26 | 8,521.83 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 368.40 | 488.50 | 647.80 | 820.10 | 582.40 | 744.91 | 804.43 | 868.71 | 938.13 | 1,013.10 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -156.60 | -93.90 | -67.20 | -100.10 | -142.30 | -145.06 | -156.65 | -169.17 | -182.69 | -197.29 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 211.80 | 394.60 | 580.60 | 720 | 440.10 | 599.85 | 647.78 | 699.54 | 755.44 | 815.81 |
Weighted Average Cost Of Capital
Share price | $ 67.04 |
---|---|
Beta | 0.823 |
Diluted Shares Outstanding | 126.71 |
Cost of Debt | |
Tax Rate | 25.14 |
After-tax Cost of Debt | 3.47% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.444 |
Total Debt | 3,274 |
Total Equity | 8,494.44 |
Total Capital | 11,768.44 |
Debt Weighting | 27.82 |
Equity Weighting | 72.18 |
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 | 4,285.30 | 4,609.80 | 4,642.10 | 5,045.20 | 5,802.30 | 6,265.95 | 6,766.64 | 7,307.35 | 7,891.26 | 8,521.83 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 368.40 | 488.50 | 647.80 | 820.10 | 582.40 | 744.91 | 804.43 | 868.71 | 938.13 | 1,013.10 |
Capital Expenditure | -156.60 | -93.90 | -67.20 | -100.10 | -142.30 | -145.06 | -156.65 | -169.17 | -182.69 | -197.29 |
Free Cash Flow | 211.80 | 394.60 | 580.60 | 720 | 440.10 | 599.85 | 647.78 | 699.54 | 755.44 | 815.81 |
WACC | ||||||||||
PV LFCF | 560.29 | 565.16 | 570.08 | 575.03 | 580.03 | |||||
SUM PV LFCF | 2,850.59 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.06 |
Free cash flow (t + 1) | 832.12 |
Terminal Value | 16,445.11 |
Present Value of Terminal Value | 11,692.32 |
Intrinsic Value
Enterprise Value | 14,542.91 |
---|---|
Net Debt | 2,702 |
Equity Value | 11,840.91 |
Shares Outstanding | 126.71 |
Equity Value Per Share | 93.45 |