Discounted Cash Flow (DCF) Analysis Levered
TechnipFMC plc (FTI)
$6.64
-0.09 (-1.34%)
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 | 15,056.90 | 12,552.90 | 13,409.10 | 13,050.60 | 6,403 | 5,387.80 | 4,533.56 | 3,814.76 | 3,209.93 | 2,701 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 210.70 | -185.40 | 848.50 | 656.90 | 715 | 241.92 | 203.56 | 171.29 | 144.13 | 121.28 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -255.70 | -368.10 | -454.40 | -291.80 | -191 | -142.65 | -120.03 | -101 | -84.99 | -71.51 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -45 | -553.50 | 394.10 | 365.10 | 524 | 99.27 | 83.53 | 70.28 | 59.14 | 49.76 |
Weighted Average Cost Of Capital
Share price | $ 6.64 |
---|---|
Beta | 1.891 |
Diluted Shares Outstanding | 450.70 |
Cost of Debt | |
Tax Rate | 27.54 |
After-tax Cost of Debt | 14.57% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.813 |
Total Debt | 2,004 |
Total Equity | 2,992.65 |
Total Capital | 4,996.65 |
Debt Weighting | 40.11 |
Equity Weighting | 59.89 |
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 | 15,056.90 | 12,552.90 | 13,409.10 | 13,050.60 | 6,403 | 5,387.80 | 4,533.56 | 3,814.76 | 3,209.93 | 2,701 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 210.70 | -185.40 | 848.50 | 656.90 | 715 | 241.92 | 203.56 | 171.29 | 144.13 | 121.28 |
Capital Expenditure | -255.70 | -368.10 | -454.40 | -291.80 | -191 | -142.65 | -120.03 | -101 | -84.99 | -71.51 |
Free Cash Flow | -45 | -553.50 | 394.10 | 365.10 | 524 | 99.27 | 83.53 | 70.28 | 59.14 | 49.76 |
WACC | ||||||||||
PV LFCF | 61.05 | 45.50 | 33.90 | 25.26 | 18.83 | |||||
SUM PV LFCF | 265.71 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 12.92 |
Free cash flow (t + 1) | 50.76 |
Terminal Value | 464.82 |
Present Value of Terminal Value | 253.18 |
Intrinsic Value
Enterprise Value | 518.89 |
---|---|
Net Debt | 677 |
Equity Value | -158.11 |
Shares Outstanding | 450.70 |
Equity Value Per Share | -0.35 |