Discounted Cash Flow (DCF) Analysis Levered
Cheniere Energy, Inc. (LNG)
$168.94
+3.48 (+2.10%)
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 | $ 168.94 |
|---|---|
| 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 | 9.425 |
| Total Debt | 27,949 |
| Total Equity | 42,809.40 |
| Total Capital | 70,758.40 |
| Debt Weighting | 39.50 |
| Equity Weighting | 60.50 |
| 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 | -364.97 | -508.29 | -707.89 | -985.86 | -1,372.99 | |||||
| SUM PV LFCF | -3,940 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.39 |
| Free cash flow (t + 1) | -2,000.26 |
| Terminal Value | -37,110.55 |
| Present Value of Terminal Value | -25,982.33 |
Intrinsic Value
| Enterprise Value | -29,922.34 |
|---|---|
| Net Debt | 26,596 |
| Equity Value | -56,518.34 |
| Shares Outstanding | 253.40 |
| Equity Value Per Share | -223.04 |