Discounted Cash Flow (DCF) Analysis Levered

Huntsman Corporation (HUN)

$25.09

-0.63 (-2.45%)
All numbers are in Millions, Currency in USD
Stock DCF: 56.47 | 25.09 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 6,7976,0188,4538,0238,662.549,353.0610,098.6310,903.6311,772.79
Revenue (%)
Operating Cash Flow 897253952914867.46936.611,011.271,091.881,178.91
Operating Cash Flow (%)
Capital Expenditure -274-249-342-272-337.95-364.88-393.97-425.38-459.28
Capital Expenditure (%)
Free Cash Flow 6234610642529.51571.72617.29666.50719.63

Weighted Average Cost Of Capital

Share price $ 25.09
Beta 1.143
Diluted Shares Outstanding 203
Cost of Debt
Tax Rate 34.00
After-tax Cost of Debt 1.93%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.141
Total Debt 2,124
Total Equity 5,093.27
Total Capital 7,217.27
Debt Weighting 29.43
Equity Weighting 70.57
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 6,7976,0188,4538,0238,662.549,353.0610,098.6310,903.6311,772.79
Operating Cash Flow 897253952914867.46936.611,011.271,091.881,178.91
Capital Expenditure -274-249-342-272-337.95-364.88-393.97-425.38-459.28
Free Cash Flow 6234610642529.51571.72617.29666.50719.63
WACC
PV LFCF 377.18380.53383.92387.33390.77
SUM PV LFCF 2,518.27

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.02
Free cash flow (t + 1) 734.02
Terminal Value 14,621.98
Present Value of Terminal Value 10,415.53

Intrinsic Value

Enterprise Value 12,933.80
Net Debt 1,470
Equity Value 11,463.80
Shares Outstanding 203
Equity Value Per Share 56.47