Discounted Cash Flow (DCF) Analysis Levered
KKR & Co. Inc. (KKR)
$63.63
+0.20 (+0.32%)
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 | 2,395.84 | 4,220.90 | 4,230.89 | 16,236.15 | 5,721.19 | 9,946.34 | 17,291.79 | 30,061.91 | 52,262.86 | 90,859.37 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -7,606.48 | -5,682.15 | -5,953.69 | -7,176.71 | -5,279.26 | -14,507.81 | -25,221.94 | -43,848.53 | -76,231.01 | -132,528.19 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -105.23 | -207.36 | -153.39 | -102.05 | -85.06 | -299.29 | -520.32 | -904.59 | -1,572.63 | -2,734.03 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -7,711.70 | -5,889.52 | -6,107.08 | -7,278.76 | -5,364.32 | -14,807.10 | -25,742.26 | -44,753.12 | -77,803.64 | -135,262.23 |
Weighted Average Cost Of Capital
| Share price | $ 63.63 |
|---|---|
| Beta | 1.519 |
| Diluted Shares Outstanding | 749.50 |
| Cost of Debt | |
| Tax Rate | 3.37 |
| After-tax Cost of Debt | 3.59% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.517 |
| Total Debt | 44,075 |
| Total Equity | 47,691 |
| Total Capital | 91,766 |
| Debt Weighting | 48.03 |
| Equity Weighting | 51.97 |
| 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 | 2,395.84 | 4,220.90 | 4,230.89 | 16,236.15 | 5,721.19 | 9,946.34 | 17,291.79 | 30,061.91 | 52,262.86 | 90,859.37 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -7,606.48 | -5,682.15 | -5,953.69 | -7,176.71 | -5,279.26 | -14,507.81 | -25,221.94 | -43,848.53 | -76,231.01 | -132,528.19 |
| Capital Expenditure | -105.23 | -207.36 | -153.39 | -102.05 | -85.06 | -299.29 | -520.32 | -904.59 | -1,572.63 | -2,734.03 |
| Free Cash Flow | -7,711.70 | -5,889.52 | -6,107.08 | -7,278.76 | -5,364.32 | -14,807.10 | -25,742.26 | -44,753.12 | -77,803.64 | -135,262.23 |
| WACC | ||||||||||
| PV LFCF | -13,747.20 | -22,188.84 | -35,814.20 | -57,806.39 | -93,303.17 | |||||
| SUM PV LFCF | -222,859.80 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.71 |
| Free cash flow (t + 1) | -137,967.47 |
| Terminal Value | -2,416,242.94 |
| Present Value of Terminal Value | -1,666,711.64 |
Intrinsic Value
| Enterprise Value | -1,889,571.44 |
|---|---|
| Net Debt | 31,251.44 |
| Equity Value | -1,920,822.88 |
| Shares Outstanding | 749.50 |
| Equity Value Per Share | -2,562.79 |