Discounted Cash Flow (DCF) Analysis Levered
Cheniere Energy, Inc. (LNG)
$167.3
+1.84 (+1.11%)
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 | 7,987 | 9,730 | 9,358 | 15,864 | 33,428 | 49,994.85 | 74,772.20 | 111,829.16 | 167,251.48 | 250,140.99 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,990 | 1,833 | 1,265 | 2,469 | 10,523 | 10,430.44 | 15,599.74 | 23,330.94 | 34,893.71 | 52,186.97 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -3,643 | -3,056 | -1,839 | -966 | -1,830 | -10,822.38 | -16,185.94 | -24,207.65 | -36,204.92 | -54,148.01 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -1,653 | -1,223 | -574 | 1,503 | 8,693 | -391.95 | -586.19 | -876.71 | -1,311.21 | -1,961.04 |
Weighted Average Cost Of Capital
Share price | $ 167.3 |
---|---|
Beta | 1.023 |
Diluted Shares Outstanding | 253.40 |
Cost of Debt | |
Tax Rate | 14.84 |
After-tax Cost of Debt | 4.28% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.481 |
Total Debt | 27,949 |
Total Equity | 42,393.82 |
Total Capital | 70,342.82 |
Debt Weighting | 39.73 |
Equity Weighting | 60.27 |
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 | 7,987 | 9,730 | 9,358 | 15,864 | 33,428 | 49,994.85 | 74,772.20 | 111,829.16 | 167,251.48 | 250,140.99 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,990 | 1,833 | 1,265 | 2,469 | 10,523 | 10,430.44 | 15,599.74 | 23,330.94 | 34,893.71 | 52,186.97 |
Capital Expenditure | -3,643 | -3,056 | -1,839 | -966 | -1,830 | -10,822.38 | -16,185.94 | -24,207.65 | -36,204.92 | -54,148.01 |
Free Cash Flow | -1,653 | -1,223 | -574 | 1,503 | 8,693 | -391.95 | -586.19 | -876.71 | -1,311.21 | -1,961.04 |
WACC | ||||||||||
PV LFCF | -364.87 | -508.01 | -707.30 | -984.76 | -1,371.07 | |||||
SUM PV LFCF | -3,936.01 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.42 |
Free cash flow (t + 1) | -2,000.26 |
Terminal Value | -36,905.14 |
Present Value of Terminal Value | -25,802.46 |
Intrinsic Value
Enterprise Value | -29,738.47 |
---|---|
Net Debt | 26,596 |
Equity Value | -56,334.47 |
Shares Outstanding | 253.40 |
Equity Value Per Share | -222.31 |