Discounted Cash Flow (DCF) Analysis Levered
LyondellBasell Industries N.V. (LYB)
$94.7
+0.16 (+0.17%)
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 | 39,004 | 34,727 | 27,753 | 46,173 | 50,451 | 56,074.83 | 62,325.56 | 69,273.06 | 76,995.01 | 85,577.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 5,471 | 4,961 | 3,404 | 7,695 | 6,119 | 7,780.05 | 8,647.30 | 9,611.22 | 10,682.60 | 11,873.40 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2,105 | -2,694 | -1,947 | -1,959 | -1,890 | -3,158.02 | -3,510.04 | -3,901.31 | -4,336.20 | -4,819.56 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 3,366 | 2,267 | 1,457 | 5,736 | 4,229 | 4,622.03 | 5,137.25 | 5,709.91 | 6,346.40 | 7,053.84 |
Weighted Average Cost Of Capital
| Share price | $ 94.7 |
|---|---|
| Beta | 1.229 |
| Diluted Shares Outstanding | 328 |
| Cost of Debt | |
| Tax Rate | 18.72 |
| After-tax Cost of Debt | 1.77% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.372 |
| Total Debt | 13,175 |
| Total Equity | 31,061.60 |
| Total Capital | 44,236.60 |
| Debt Weighting | 29.78 |
| Equity Weighting | 70.22 |
| 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 | 39,004 | 34,727 | 27,753 | 46,173 | 50,451 | 56,074.83 | 62,325.56 | 69,273.06 | 76,995.01 | 85,577.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 5,471 | 4,961 | 3,404 | 7,695 | 6,119 | 7,780.05 | 8,647.30 | 9,611.22 | 10,682.60 | 11,873.40 |
| Capital Expenditure | -2,105 | -2,694 | -1,947 | -1,959 | -1,890 | -3,158.02 | -3,510.04 | -3,901.31 | -4,336.20 | -4,819.56 |
| Free Cash Flow | 3,366 | 2,267 | 1,457 | 5,736 | 4,229 | 4,622.03 | 5,137.25 | 5,709.91 | 6,346.40 | 7,053.84 |
| WACC | ||||||||||
| PV LFCF | 4,287.20 | 4,419.91 | 4,556.72 | 4,697.76 | 4,843.18 | |||||
| SUM PV LFCF | 22,804.77 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.81 |
| Free cash flow (t + 1) | 7,194.92 |
| Terminal Value | 123,836.79 |
| Present Value of Terminal Value | 85,026.53 |
Intrinsic Value
| Enterprise Value | 107,831.30 |
|---|---|
| Net Debt | 11,024 |
| Equity Value | 96,807.30 |
| Shares Outstanding | 328 |
| Equity Value Per Share | 295.14 |