Discounted Cash Flow (DCF) Analysis Levered
Fortive Corporation (FTV)
$68.15
-0.25 (-0.37%)
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 | 6,452.70 | 7,320 | 4,634.40 | 5,254.70 | 5,825.70 | 5,840.32 | 5,854.97 | 5,869.66 | 5,884.38 | 5,899.14 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,344.40 | 1,271.40 | 1,436.70 | 961.10 | 1,303.20 | 1,283.29 | 1,286.51 | 1,289.73 | 1,292.97 | 1,296.21 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -112.30 | -112.50 | -75.70 | -50 | -95.80 | -87.68 | -87.90 | -88.12 | -88.34 | -88.57 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,232.10 | 1,158.90 | 1,361 | 911.10 | 1,207.40 | 1,195.60 | 1,198.60 | 1,201.61 | 1,204.62 | 1,207.65 |
Weighted Average Cost Of Capital
| Share price | $ 68.15 |
|---|---|
| Beta | 1.174 |
| Diluted Shares Outstanding | 352.30 |
| Cost of Debt | |
| Tax Rate | 13.54 |
| After-tax Cost of Debt | 2.48% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.287 |
| Total Debt | 3,420.70 |
| Total Equity | 24,009.25 |
| Total Capital | 27,429.95 |
| Debt Weighting | 12.47 |
| Equity Weighting | 87.53 |
| 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 | 6,452.70 | 7,320 | 4,634.40 | 5,254.70 | 5,825.70 | 5,840.32 | 5,854.97 | 5,869.66 | 5,884.38 | 5,899.14 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,344.40 | 1,271.40 | 1,436.70 | 961.10 | 1,303.20 | 1,283.29 | 1,286.51 | 1,289.73 | 1,292.97 | 1,296.21 |
| Capital Expenditure | -112.30 | -112.50 | -75.70 | -50 | -95.80 | -87.68 | -87.90 | -88.12 | -88.34 | -88.57 |
| Free Cash Flow | 1,232.10 | 1,158.90 | 1,361 | 911.10 | 1,207.40 | 1,195.60 | 1,198.60 | 1,201.61 | 1,204.62 | 1,207.65 |
| WACC | ||||||||||
| PV LFCF | 1,102.55 | 1,019.29 | 942.31 | 871.15 | 805.36 | |||||
| SUM PV LFCF | 4,740.66 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.44 |
| Free cash flow (t + 1) | 1,231.80 |
| Terminal Value | 19,127.33 |
| Present Value of Terminal Value | 12,755.77 |
Intrinsic Value
| Enterprise Value | 17,496.44 |
|---|---|
| Net Debt | 2,711.50 |
| Equity Value | 14,784.94 |
| Shares Outstanding | 352.30 |
| Equity Value Per Share | 41.97 |