Discounted Cash Flow (DCF) Analysis Levered
Honeywell Automation India Limited (HONAUT.NS)
40844 ₹
-172.20 (-0.42%)
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 | 26,888 | 31,734.10 | 32,714.20 | 30,142.50 | 29,483.20 | 30,298.66 | 31,136.67 | 31,997.86 | 32,882.87 | 33,792.36 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2,629 | 3,087.70 | 3,299.70 | 3,644 | 2,635.80 | 3,067.63 | 3,152.48 | 3,239.67 | 3,329.27 | 3,421.36 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -192.80 | -237.10 | -593.60 | -485.40 | -126.50 | -322.26 | -331.18 | -340.34 | -349.75 | -359.42 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 2,436.20 | 2,850.60 | 2,706.10 | 3,158.60 | 2,509.30 | 2,745.37 | 2,821.30 | 2,899.33 | 2,979.52 | 3,061.93 |
Weighted Average Cost Of Capital
| Share price | $ 40,844 |
|---|---|
| Beta | 0.380 |
| Diluted Shares Outstanding | 8.84 |
| Cost of Debt | |
| Tax Rate | 25.89 |
| After-tax Cost of Debt | 7.30% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.541 |
| Total Debt | 557.40 |
| Total Equity | 361,118.59 |
| Total Capital | 361,675.99 |
| Debt Weighting | 0.15 |
| Equity Weighting | 99.85 |
| 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 | 26,888 | 31,734.10 | 32,714.20 | 30,142.50 | 29,483.20 | 30,298.66 | 31,136.67 | 31,997.86 | 32,882.87 | 33,792.36 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2,629 | 3,087.70 | 3,299.70 | 3,644 | 2,635.80 | 3,067.63 | 3,152.48 | 3,239.67 | 3,329.27 | 3,421.36 |
| Capital Expenditure | -192.80 | -237.10 | -593.60 | -485.40 | -126.50 | -322.26 | -331.18 | -340.34 | -349.75 | -359.42 |
| Free Cash Flow | 2,436.20 | 2,850.60 | 2,706.10 | 3,158.60 | 2,509.30 | 2,745.37 | 2,821.30 | 2,899.33 | 2,979.52 | 3,061.93 |
| WACC | ||||||||||
| PV LFCF | 2,601.26 | 2,532.88 | 2,466.31 | 2,401.48 | 2,338.35 | |||||
| SUM PV LFCF | 12,340.28 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.54 |
| Free cash flow (t + 1) | 3,123.17 |
| Terminal Value | 88,225.18 |
| Present Value of Terminal Value | 67,376.29 |
Intrinsic Value
| Enterprise Value | 79,716.57 |
|---|---|
| Net Debt | -2,349.40 |
| Equity Value | 82,065.97 |
| Shares Outstanding | 8.84 |
| Equity Value Per Share | 9,282.00 |