Discounted Cash Flow (DCF) Analysis Levered
KKR & Co. Inc. (KKR)
$48.57
+2.18 (+4.70%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 3,282.26 | 2,395.84 | 4,220.90 | 4,230.89 | 16,236.15 | 29,759.20 | 54,545.56 | 99,976.42 | 183,246.54 | 335,872.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -3,630.03 | -7,606.48 | -5,682.15 | -5,953.69 | -7,176.71 | -44,497.36 | -81,559.10 | -149,489.49 | -273,998.92 | -502,211.95 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -98.12 | -105.23 | -207.36 | -153.39 | -102.05 | -984.92 | -1,805.26 | -3,308.86 | -6,064.80 | -11,116.16 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -3,728.15 | -7,711.70 | -5,889.52 | -6,107.08 | -7,278.76 | -45,482.28 | -83,364.37 | -152,798.34 | -280,063.72 | -513,328.11 |
Weighted Average Cost Of Capital
| Share price | $ 48.57 |
|---|---|
| Beta | 1.474 |
| Diluted Shares Outstanding | 562.81 |
| Cost of Debt | |
| Tax Rate | 65.81 |
| After-tax Cost of Debt | 0.98% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.083 |
| Total Debt | 39,289.78 |
| Total Equity | 27,335.82 |
| Total Capital | 66,625.60 |
| Debt Weighting | 58.97 |
| Equity Weighting | 41.03 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 3,282.26 | 2,395.84 | 4,220.90 | 4,230.89 | 16,236.15 | 29,759.20 | 54,545.56 | 99,976.42 | 183,246.54 | 335,872.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -3,630.03 | -7,606.48 | -5,682.15 | -5,953.69 | -7,176.71 | -44,497.36 | -81,559.10 | -149,489.49 | -273,998.92 | -502,211.95 |
| Capital Expenditure | -98.12 | -105.23 | -207.36 | -153.39 | -102.05 | -984.92 | -1,805.26 | -3,308.86 | -6,064.80 | -11,116.16 |
| Free Cash Flow | -3,728.15 | -7,711.70 | -5,889.52 | -6,107.08 | -7,278.76 | -45,482.28 | -83,364.37 | -152,798.34 | -280,063.72 | -513,328.11 |
| WACC | ||||||||||
| PV LFCF | -43,432.28 | -76,018.83 | -133,054.56 | -232,883.28 | -407,611.92 | |||||
| SUM PV LFCF | -893,000.87 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.72 |
| Free cash flow (t + 1) | -523,594.67 |
| Terminal Value | -19,249,804.04 |
| Present Value of Terminal Value | -15,285,447.05 |
Intrinsic Value
| Enterprise Value | -16,178,447.92 |
|---|---|
| Net Debt | 29,198.17 |
| Equity Value | -16,207,646.09 |
| Shares Outstanding | 562.81 |
| Equity Value Per Share | -28,797.57 |