Discounted Cash Flow (DCF) Analysis Levered
Fortive Corporation (FTV)
$58.27
-0.31 (-0.53%)
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 | 6,656 | 6,452.70 | 7,320 | 4,634.40 | 5,254.70 | 5,085.01 | 4,920.80 | 4,761.89 | 4,608.11 | 4,459.30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,176.40 | 1,344.40 | 1,271.40 | 1,436.70 | 961.10 | 1,069.57 | 1,035.03 | 1,001.60 | 969.26 | 937.96 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -136.10 | -112.30 | -112.50 | -75.70 | -50 | -80.41 | -77.82 | -75.30 | -72.87 | -70.52 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,040.30 | 1,232.10 | 1,158.90 | 1,361 | 911.10 | 989.16 | 957.21 | 926.30 | 896.39 | 867.44 |
Weighted Average Cost Of Capital
| Share price | $ 58.27 |
|---|---|
| Beta | 1.200 |
| Diluted Shares Outstanding | 352.30 |
| Cost of Debt | |
| Tax Rate | 10.20 |
| After-tax Cost of Debt | 4.49% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.453 |
| Total Debt | 4,143.50 |
| Total Equity | 20,528.52 |
| Total Capital | 24,672.02 |
| Debt Weighting | 16.79 |
| Equity Weighting | 83.21 |
| 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 | 6,656 | 6,452.70 | 7,320 | 4,634.40 | 5,254.70 | 5,085.01 | 4,920.80 | 4,761.89 | 4,608.11 | 4,459.30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,176.40 | 1,344.40 | 1,271.40 | 1,436.70 | 961.10 | 1,069.57 | 1,035.03 | 1,001.60 | 969.26 | 937.96 |
| Capital Expenditure | -136.10 | -112.30 | -112.50 | -75.70 | -50 | -80.41 | -77.82 | -75.30 | -72.87 | -70.52 |
| Free Cash Flow | 1,040.30 | 1,232.10 | 1,158.90 | 1,361 | 911.10 | 989.16 | 957.21 | 926.30 | 896.39 | 867.44 |
| WACC | ||||||||||
| PV LFCF | 917.67 | 823.86 | 739.63 | 664.02 | 596.14 | |||||
| SUM PV LFCF | 3,741.32 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.79 |
| Free cash flow (t + 1) | 884.79 |
| Terminal Value | 15,281.32 |
| Present Value of Terminal Value | 10,501.92 |
Intrinsic Value
| Enterprise Value | 14,243.23 |
|---|---|
| Net Debt | 3,324.20 |
| Equity Value | 10,919.03 |
| Shares Outstanding | 352.30 |
| Equity Value Per Share | 30.99 |