Discounted Cash Flow (DCF) Analysis Levered
Las Vegas Sands Corp. (LCR.DE)
37.19 €
0.00 (0.00%)
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 | 13,729 | 13,739 | 3,612 | 4,234 | 4,110 | 3,500.23 | 2,980.92 | 2,538.66 | 2,162.02 | 1,841.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 4,701 | 3,038 | -1,312 | 15 | 209.45 | 178.38 | 151.91 | 129.37 | 110.18 | 93.83 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -949 | -1,269 | -1,330 | -839 | -747.88 | -636.92 | -542.43 | -461.95 | -393.41 | -335.05 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 3,752 | 1,769 | -2,642 | -824 | -538.43 | -458.55 | -390.51 | -332.58 | -283.23 | -241.21 |
Weighted Average Cost Of Capital
| Share price | $ 37.19 |
|---|---|
| Beta | 1.247 |
| Diluted Shares Outstanding | 764 |
| Cost of Debt | |
| Tax Rate | 232.08 |
| After-tax Cost of Debt | -5.55% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.285 |
| Total Debt | 14,795 |
| Total Equity | 28,413.16 |
| Total Capital | 43,208.16 |
| Debt Weighting | 34.24 |
| Equity Weighting | 65.76 |
| 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 | 13,729 | 13,739 | 3,612 | 4,234 | 4,110 | 3,500.23 | 2,980.92 | 2,538.66 | 2,162.02 | 1,841.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 4,701 | 3,038 | -1,312 | 15 | 209.45 | 178.38 | 151.91 | 129.37 | 110.18 | 93.83 |
| Capital Expenditure | -949 | -1,269 | -1,330 | -839 | -747.88 | -636.92 | -542.43 | -461.95 | -393.41 | -335.05 |
| Free Cash Flow | 3,752 | 1,769 | -2,642 | -824 | -538.43 | -458.55 | -390.51 | -332.58 | -283.23 | -241.21 |
| WACC | ||||||||||
| PV LFCF | -440.02 | -359.60 | -293.88 | -240.16 | -196.27 | |||||
| SUM PV LFCF | -1,529.93 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.21 |
| Free cash flow (t + 1) | -246.04 |
| Terminal Value | -11,132.88 |
| Present Value of Terminal Value | -9,058.59 |
Intrinsic Value
| Enterprise Value | -10,588.52 |
|---|---|
| Net Debt | 12,941 |
| Equity Value | -23,529.52 |
| Shares Outstanding | 764 |
| Equity Value Per Share | -30.80 |