Discounted Cash Flow (DCF) Analysis Levered
J.B. Hunt Transport Services, Inc. (JBHT)
$175.46
+5.71 (+3.36%)
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 | 8,614.87 | 9,165.26 | 9,636.57 | 12,168.30 | 14,814 | 17,019.28 | 19,552.84 | 22,463.57 | 25,807.59 | 29,649.43 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,087.84 | 1,098.35 | 1,122.86 | 1,223.90 | 1,776.88 | 1,984.99 | 2,280.49 | 2,619.97 | 3,009.99 | 3,458.07 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -995.65 | -854.11 | -738.55 | -947.56 | -1,540.80 | -1,590.57 | -1,827.35 | -2,099.38 | -2,411.90 | -2,770.94 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 92.19 | 244.23 | 384.31 | 276.34 | 236.09 | 394.42 | 453.14 | 520.60 | 598.10 | 687.13 |
Weighted Average Cost Of Capital
| Share price | $ 175.46 |
|---|---|
| Beta | 1.141 |
| Diluted Shares Outstanding | 105.28 |
| Cost of Debt | |
| Tax Rate | 24.35 |
| After-tax Cost of Debt | 3.07% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.878 |
| Total Debt | 1,261.74 |
| Total Equity | 18,471.73 |
| Total Capital | 19,733.46 |
| Debt Weighting | 6.39 |
| Equity Weighting | 93.61 |
| 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 | 8,614.87 | 9,165.26 | 9,636.57 | 12,168.30 | 14,814 | 17,019.28 | 19,552.84 | 22,463.57 | 25,807.59 | 29,649.43 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,087.84 | 1,098.35 | 1,122.86 | 1,223.90 | 1,776.88 | 1,984.99 | 2,280.49 | 2,619.97 | 3,009.99 | 3,458.07 |
| Capital Expenditure | -995.65 | -854.11 | -738.55 | -947.56 | -1,540.80 | -1,590.57 | -1,827.35 | -2,099.38 | -2,411.90 | -2,770.94 |
| Free Cash Flow | 92.19 | 244.23 | 384.31 | 276.34 | 236.09 | 394.42 | 453.14 | 520.60 | 598.10 | 687.13 |
| WACC | ||||||||||
| PV LFCF | 363.49 | 384.85 | 407.47 | 431.41 | 456.76 | |||||
| SUM PV LFCF | 2,043.98 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.51 |
| Free cash flow (t + 1) | 700.87 |
| Terminal Value | 10,766.10 |
| Present Value of Terminal Value | 7,156.65 |
Intrinsic Value
| Enterprise Value | 9,200.63 |
|---|---|
| Net Debt | 1,209.81 |
| Equity Value | 7,990.82 |
| Shares Outstanding | 105.28 |
| Equity Value Per Share | 75.90 |