Discounted Cash Flow (DCF) Analysis Levered
Cheniere Energy, Inc. (LNG)
$147.14
-0.19 (-0.13%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 9,730 | 9,358 | 15,864 | 33,428 | 53,085.48 | 84,302.61 | 133,877.12 | 212,604.13 | 337,626.88 | 536,169.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,833 | 1,265 | 2,469 | 10,523 | 10,537.42 | 16,733.99 | 26,574.48 | 42,201.72 | 67,018.62 | 106,429.20 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -3,056 | -1,839 | -966 | -1,830 | -0.40 | -10,558.75 | -16,767.87 | -26,628.29 | -42,287.17 | -67,154.32 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1,223 | -574 | 1,503 | 8,693 | 10,537.02 | 6,175.24 | 9,806.61 | 15,573.43 | 24,731.45 | 39,274.89 |
Weighted Average Cost Of Capital
| Share price | $ 147.14 |
|---|---|
| Beta | 1.014 |
| Diluted Shares Outstanding | 253.40 |
| Cost of Debt | |
| Tax Rate | 53.85 |
| After-tax Cost of Debt | 2.32% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.530 |
| Total Debt | 27,949 |
| Total Equity | 37,285.28 |
| Total Capital | 65,234.28 |
| Debt Weighting | 42.84 |
| Equity Weighting | 57.16 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 9,730 | 9,358 | 15,864 | 33,428 | 53,085.48 | 84,302.61 | 133,877.12 | 212,604.13 | 337,626.88 | 536,169.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,833 | 1,265 | 2,469 | 10,523 | 10,537.42 | 16,733.99 | 26,574.48 | 42,201.72 | 67,018.62 | 106,429.20 |
| Capital Expenditure | -3,056 | -1,839 | -966 | -1,830 | -0.40 | -10,558.75 | -16,767.87 | -26,628.29 | -42,287.17 | -67,154.32 |
| Free Cash Flow | -1,223 | -574 | 1,503 | 8,693 | 10,537.02 | 6,175.24 | 9,806.61 | 15,573.43 | 24,731.45 | 39,274.89 |
| WACC | ||||||||||
| PV LFCF | 7,922.33 | 4,385.47 | 6,578.22 | 9,867.36 | 14,801.08 | 22,201.68 | ||||
| SUM PV LFCF | 76,921.26 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.87 |
| Free cash flow (t + 1) | 40,060.38 |
| Terminal Value | 1,035,152.06 |
| Present Value of Terminal Value | 778,286.66 |
Intrinsic Value
| Enterprise Value | 855,207.92 |
|---|---|
| Net Debt | 26,596 |
| Equity Value | 828,611.92 |
| Shares Outstanding | 253.40 |
| Equity Value Per Share | 3,269.98 |