Discounted Cash Flow (DCF) Analysis Levered
Huntsman Corporation (HUN)
$36.16
+0.82 (+2.32%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 8,358 | 9,379 | 6,797 | 6,018 | 8,453 | 8,742.25 | 9,041.39 | 9,350.77 | 9,670.74 | 10,001.65 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,219 | 1,207 | 897 | 253 | 952 | 981.18 | 1,014.76 | 1,049.48 | 1,085.39 | 1,122.53 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -282 | -313 | -274 | -249 | -342 | -330.91 | -342.23 | -353.94 | -366.06 | -378.58 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 937 | 894 | 623 | 4 | 610 | 650.27 | 672.52 | 695.54 | 719.34 | 743.95 |
Weighted Average Cost Of Capital
Share price | $ 36.16 |
---|---|
Beta | 1.146 |
Diluted Shares Outstanding | 221 |
Cost of Debt | |
Tax Rate | 20.41 |
After-tax Cost of Debt | 2.71% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.163 |
Total Debt | 1,971 |
Total Equity | 7,991.36 |
Total Capital | 9,962.36 |
Debt Weighting | 19.78 |
Equity Weighting | 80.22 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 8,358 | 9,379 | 6,797 | 6,018 | 8,453 | 8,742.25 | 9,041.39 | 9,350.77 | 9,670.74 | 10,001.65 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,219 | 1,207 | 897 | 253 | 952 | 981.18 | 1,014.76 | 1,049.48 | 1,085.39 | 1,122.53 |
Capital Expenditure | -282 | -313 | -274 | -249 | -342 | -330.91 | -342.23 | -353.94 | -366.06 | -378.58 |
Free Cash Flow | 937 | 894 | 623 | 4 | 610 | 650.27 | 672.52 | 695.54 | 719.34 | 743.95 |
WACC | ||||||||||
PV LFCF | 607.28 | 586.53 | 566.49 | 547.14 | 528.45 | |||||
SUM PV LFCF | 2,835.89 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.08 |
Free cash flow (t + 1) | 758.83 |
Terminal Value | 14,937.59 |
Present Value of Terminal Value | 10,610.57 |
Intrinsic Value
Enterprise Value | 13,446.46 |
---|---|
Net Debt | 930 |
Equity Value | 12,516.46 |
Shares Outstanding | 221 |
Equity Value Per Share | 56.64 |