Discounted Cash Flow (DCF) Analysis Levered

General Electric Company (GE)

$153.915

-0.85 (-0.55%)
All numbers are in Millions, Currency in USD
Stock DCF: 20.70 | 153.915 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 95,21579,61974,19658,09967,95463,210.1758,797.5054,692.8850,874.8047,323.26
Revenue (%)
Operating Cash Flow 8,7723,5973,3325,9165,1794,554.344,236.403,940.663,665.573,409.68
Operating Cash Flow (%)
Capital Expenditure -6,095-3,403-1,361-1,174-1,595-2,133.67-1,984.72-1,846.17-1,717.29-1,597.41
Capital Expenditure (%)
Free Cash Flow 2,6771941,9714,7423,5842,420.672,251.682,094.491,948.281,812.27

Weighted Average Cost Of Capital

Share price $ 153.915
Beta 1.186
Diluted Shares Outstanding 1,117.39
Cost of Debt
Tax Rate 6.97
After-tax Cost of Debt 4.53%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.904
Total Debt 22,937
Total Equity 171,983.28
Total Capital 194,920.28
Debt Weighting 11.77
Equity Weighting 88.23
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 95,21579,61974,19658,09967,95463,210.1758,797.5054,692.8850,874.8047,323.26
Operating Cash Flow 8,7723,5973,3325,9165,1794,554.344,236.403,940.663,665.573,409.68
Capital Expenditure -6,095-3,403-1,361-1,174-1,595-2,133.67-1,984.72-1,846.17-1,717.29-1,597.41
Free Cash Flow 2,6771941,9714,7423,5842,420.672,251.682,094.491,948.281,812.27
WACC
PV LFCF 2,215.311,885.841,605.371,366.621,163.37
SUM PV LFCF 8,236.51

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.27
Free cash flow (t + 1) 1,875.70
Terminal Value 32,507.76
Present Value of Terminal Value 20,868.07

Intrinsic Value

Enterprise Value 29,104.58
Net Debt 5,970
Equity Value 23,134.58
Shares Outstanding 1,117.39
Equity Value Per Share 20.70