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 |