Discounted Cash Flow (DCF) Analysis Levered
InterGlobe Aviation Limited (INDIGO.NS)
3273.4 ₹
+24.20 (+0.74%)
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 | 281,652.20 | 353,688.59 | 142,098.96 | 256,539.68 | 544,464.53 | 760,239.40 | 1,061,527.27 | 1,482,217.51 | 2,069,630.04 | 2,889,838.02 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 31,755.41 | 69,717.82 | -16,141.54 | 20,905.78 | 127,279.39 | 77,777.19 | 108,600.80 | 151,640.01 | 211,735.94 | 295,648.29 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -17,115.62 | -10,883.06 | -4,368.87 | -3,468.81 | -5,698.04 | -22,240.20 | -31,054.13 | -43,361.09 | -60,545.37 | -84,539.90 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 14,639.79 | 58,834.76 | -20,510.41 | 17,436.97 | 121,581.35 | 55,536.99 | 77,546.67 | 108,278.92 | 151,190.57 | 211,108.39 |
Weighted Average Cost Of Capital
Share price | $ 3,273.4 |
---|---|
Beta | 0.570 |
Diluted Shares Outstanding | 385.61 |
Cost of Debt | |
Tax Rate | -0.46 |
After-tax Cost of Debt | 6.98% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.046 |
Total Debt | 448,542.13 |
Total Equity | 1,262,256.89 |
Total Capital | 1,710,799.02 |
Debt Weighting | 26.22 |
Equity Weighting | 73.78 |
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 | 281,652.20 | 353,688.59 | 142,098.96 | 256,539.68 | 544,464.53 | 760,239.40 | 1,061,527.27 | 1,482,217.51 | 2,069,630.04 | 2,889,838.02 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 31,755.41 | 69,717.82 | -16,141.54 | 20,905.78 | 127,279.39 | 77,777.19 | 108,600.80 | 151,640.01 | 211,735.94 | 295,648.29 |
Capital Expenditure | -17,115.62 | -10,883.06 | -4,368.87 | -3,468.81 | -5,698.04 | -22,240.20 | -31,054.13 | -43,361.09 | -60,545.37 | -84,539.90 |
Free Cash Flow | 14,639.79 | 58,834.76 | -20,510.41 | 17,436.97 | 121,581.35 | 55,536.99 | 77,546.67 | 108,278.92 | 151,190.57 | 211,108.39 |
WACC | ||||||||||
PV LFCF | 51,889.18 | 67,694.30 | 88,313.55 | 115,213.30 | 150,306.54 | |||||
SUM PV LFCF | 473,416.87 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.03 |
Free cash flow (t + 1) | 217,441.64 |
Terminal Value | 5,395,574.22 |
Present Value of Terminal Value | 3,841,581.44 |
Intrinsic Value
Enterprise Value | 4,314,998.30 |
---|---|
Net Debt | 435,862.44 |
Equity Value | 3,879,135.86 |
Shares Outstanding | 385.61 |
Equity Value Per Share | 10,059.73 |