Discounted Cash Flow (DCF) Analysis Levered
Hyatt Hotels Corporation (H)
$106.08
-2.04 (-1.89%)
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 | 4,454 | 5,020 | 2,066 | 3,028 | 5,891 | 7,289.78 | 9,020.69 | 11,162.59 | 13,813.07 | 17,092.89 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 341 | 396 | -611 | 315 | 674 | 113.93 | 140.98 | 174.46 | 215.88 | 267.15 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -297 | -369 | -122 | -111 | -201 | -393.67 | -487.15 | -602.82 | -745.95 | -923.07 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 44 | 27 | -733 | 204 | 473 | -279.74 | -346.16 | -428.36 | -530.07 | -655.93 |
Weighted Average Cost Of Capital
| Share price | $ 106.08 |
|---|---|
| Beta | 1.392 |
| Diluted Shares Outstanding | 111.30 |
| Cost of Debt | |
| Tax Rate | -25.34 |
| After-tax Cost of Debt | 4.35% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.145 |
| Total Debt | 3,450 |
| Total Equity | 11,806.70 |
| Total Capital | 15,256.70 |
| Debt Weighting | 22.61 |
| Equity Weighting | 77.39 |
| 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 | 4,454 | 5,020 | 2,066 | 3,028 | 5,891 | 7,289.78 | 9,020.69 | 11,162.59 | 13,813.07 | 17,092.89 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 341 | 396 | -611 | 315 | 674 | 113.93 | 140.98 | 174.46 | 215.88 | 267.15 |
| Capital Expenditure | -297 | -369 | -122 | -111 | -201 | -393.67 | -487.15 | -602.82 | -745.95 | -923.07 |
| Free Cash Flow | 44 | 27 | -733 | 204 | 473 | -279.74 | -346.16 | -428.36 | -530.07 | -655.93 |
| WACC | ||||||||||
| PV LFCF | -255.21 | -288.12 | -325.28 | -367.22 | -414.58 | |||||
| SUM PV LFCF | -1,650.42 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.61 |
| Free cash flow (t + 1) | -669.05 |
| Terminal Value | -8,791.67 |
| Present Value of Terminal Value | -5,556.75 |
Intrinsic Value
| Enterprise Value | -7,207.16 |
|---|---|
| Net Debt | 2,459 |
| Equity Value | -9,666.16 |
| Shares Outstanding | 111.30 |
| Equity Value Per Share | -86.85 |