Discounted Cash Flow (DCF) Analysis Levered
Johnson Controls International plc (JCI)
$63.51
-0.04 (-0.06%)
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 | 31,400 | 23,968 | 22,317 | 23,668 | 25,299 | 24,185.07 | 23,120.18 | 22,102.18 | 21,129 | 20,198.68 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 2,513 | 1,202 | 2,219 | 2,487 | 1,986 | 1,998.62 | 1,910.62 | 1,826.49 | 1,746.07 | 1,669.19 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1,030 | -586 | -443 | -552 | -592 | -598.94 | -572.57 | -547.36 | -523.26 | -500.22 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 1,483 | 616 | 1,776 | 1,935 | 1,394 | 1,399.68 | 1,338.05 | 1,279.13 | 1,222.81 | 1,168.97 |
Weighted Average Cost Of Capital
Share price | $ 63.51 |
---|---|
Beta | 1.232 |
Diluted Shares Outstanding | 699.60 |
Cost of Debt | |
Tax Rate | 10.41 |
After-tax Cost of Debt | 2.25% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.559 |
Total Debt | 8,960 |
Total Equity | 44,431.60 |
Total Capital | 53,391.60 |
Debt Weighting | 16.78 |
Equity Weighting | 83.22 |
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 | 31,400 | 23,968 | 22,317 | 23,668 | 25,299 | 24,185.07 | 23,120.18 | 22,102.18 | 21,129 | 20,198.68 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 2,513 | 1,202 | 2,219 | 2,487 | 1,986 | 1,998.62 | 1,910.62 | 1,826.49 | 1,746.07 | 1,669.19 |
Capital Expenditure | -1,030 | -586 | -443 | -552 | -592 | -598.94 | -572.57 | -547.36 | -523.26 | -500.22 |
Free Cash Flow | 1,483 | 616 | 1,776 | 1,935 | 1,394 | 1,399.68 | 1,338.05 | 1,279.13 | 1,222.81 | 1,168.97 |
WACC | ||||||||||
PV LFCF | 1,292.05 | 1,140.18 | 1,006.16 | 887.90 | 783.54 | |||||
SUM PV LFCF | 5,109.83 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.33 |
Free cash flow (t + 1) | 1,192.35 |
Terminal Value | 18,836.47 |
Present Value of Terminal Value | 12,625.71 |
Intrinsic Value
Enterprise Value | 17,735.54 |
---|---|
Net Debt | 6,929 |
Equity Value | 10,806.54 |
Shares Outstanding | 699.60 |
Equity Value Per Share | 15.45 |