Discounted Cash Flow (DCF) Analysis Levered

Intel Corporation (INTC)

$43.405

-1.11 (-2.50%)
All numbers are in Millions, Currency in USD
Stock DCF: -1.38 | 43.405 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 71,96577,86779,02463,05454,22850,903.8947,783.5544,854.4842,104.9539,523.97
Revenue (%)
Operating Cash Flow 33,14535,38429,99115,43311,47117,824.4616,731.8515,706.2114,743.4313,839.68
Operating Cash Flow (%)
Capital Expenditure -16,213-14,453-20,329-25,050-25,750-15,681.23-14,719.99-13,817.67-12,970.66-12,175.58
Capital Expenditure (%)
Free Cash Flow 16,93220,9319,662-9,617-14,2792,143.242,011.861,888.531,772.771,664.10

Weighted Average Cost Of Capital

Share price $ 43.405
Beta 1.018
Diluted Shares Outstanding 4,212
Cost of Debt
Tax Rate -121.65
After-tax Cost of Debt 4.29%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.099
Total Debt 49,278
Total Equity 182,821.86
Total Capital 232,099.86
Debt Weighting 21.23
Equity Weighting 78.77
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 71,96577,86779,02463,05454,22850,903.8947,783.5544,854.4842,104.9539,523.97
Operating Cash Flow 33,14535,38429,99115,43311,47117,824.4616,731.8515,706.2114,743.4313,839.68
Capital Expenditure -16,213-14,453-20,329-25,050-25,750-15,681.23-14,719.99-13,817.67-12,970.66-12,175.58
Free Cash Flow 16,93220,9319,662-9,617-14,2792,143.242,011.861,888.531,772.771,664.10
WACC
PV LFCF 1,983.011,722.291,495.851,299.191,128.37
SUM PV LFCF 7,628.72

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.08
Free cash flow (t + 1) 1,730.67
Terminal Value 42,418.27
Present Value of Terminal Value 28,762.48

Intrinsic Value

Enterprise Value 36,391.19
Net Debt 42,199
Equity Value -5,807.81
Shares Outstanding 4,212
Equity Value Per Share -1.38