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
Stock DCF: 9,282.00 | 40844 | overvalue

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 26,88831,734.1032,714.2030,142.5029,483.2030,298.6631,136.6731,997.8632,882.8733,792.36
Revenue (%)
Operating Cash Flow 2,6293,087.703,299.703,6442,635.803,067.633,152.483,239.673,329.273,421.36
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 2,436.202,850.602,706.103,158.602,509.302,745.372,821.302,899.332,979.523,061.93

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 26,88831,734.1032,714.2030,142.5029,483.2030,298.6631,136.6731,997.8632,882.8733,792.36
Operating Cash Flow 2,6293,087.703,299.703,6442,635.803,067.633,152.483,239.673,329.273,421.36
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 2,436.202,850.602,706.103,158.602,509.302,745.372,821.302,899.332,979.523,061.93
WACC
PV LFCF 2,601.262,532.882,466.312,401.482,338.35
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