Discounted Cash Flow (DCF) Analysis Levered

Mobile TeleSystems Public Joint Sto... (MBT)

$5.5

0.00 (-%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,383.27 | 5.5 | undervalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 442,911480,293476,106494,925.99534,402.99560,451.88587,770.48616,420.70646,467.44677,978.78
Revenue (%)
Operating Cash Flow 144,640154,390106,652155,507142,846162,926.49170,868.16179,196.94187,931.70197,092.22
Operating Cash Flow (%)
Capital Expenditure -76,431-92,009-91,736-97,409-111,683-107,899.89-113,159.35-118,675.18-124,459.87-130,526.53
Capital Expenditure (%)
Free Cash Flow 68,20962,38114,91658,09831,16355,026.6057,708.8160,521.7663,471.8366,565.69

Weighted Average Cost Of Capital

Share price $ 5.5
Beta 1.060
Diluted Shares Outstanding 880.23
Cost of Debt
Tax Rate 19.86
After-tax Cost of Debt 5.38%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.519
Total Debt 616,648
Total Equity 4,841.29
Total Capital 621,489.29
Debt Weighting 99.22
Equity Weighting 0.78
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 442,911480,293476,106494,925.99534,402.99560,451.88587,770.48616,420.70646,467.44677,978.78
Operating Cash Flow 144,640154,390106,652155,507142,846162,926.49170,868.16179,196.94187,931.70197,092.22
Capital Expenditure -76,431-92,009-91,736-97,409-111,683-107,899.89-113,159.35-118,675.18-124,459.87-130,526.53
Free Cash Flow 68,20962,38114,91658,09831,16355,026.6057,708.8160,521.7663,471.8366,565.69
WACC
PV LFCF 52,207.4051,947.0551,68851,430.2451,173.77
SUM PV LFCF 258,446.46

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.40
Free cash flow (t + 1) 67,897.01
Terminal Value 1,996,970.77
Present Value of Terminal Value 1,535,213.05

Intrinsic Value

Enterprise Value 1,793,659.51
Net Debt 576,058
Equity Value 1,217,601.51
Shares Outstanding 880.23
Equity Value Per Share 1,383.27