Discounted Cash Flow (DCF) Analysis Levered

LVMH Moët Hennessy - Louis Vuitton,... (MC.PA)

842.2 €

-7.90 (-0.93%)
All numbers are in Millions, Currency in USD
Stock DCF: 737.68 | 842.2 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 53,67044,65064,21579,18486,15398,887.26113,503.78130,280.76149,537.54171,640.67
Revenue (%)
Operating Cash Flow 11,64710,89818,64717,83518,40023,540.7027,020.2531,014.1135,598.3040,860.08
Operating Cash Flow (%)
Capital Expenditure -3,388-2,465-3,255-5,082-6,807-6,174.78-7,087.47-8,135.07-9,337.51-10,717.69
Capital Expenditure (%)
Free Cash Flow 8,2598,43315,39212,75311,59317,365.9219,932.7822,879.0426,260.7930,142.39

Weighted Average Cost Of Capital

Share price $ 842.2
Beta 1.001
Diluted Shares Outstanding 500.30
Cost of Debt
Tax Rate 29.83
After-tax Cost of Debt 3.04%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.052
Total Debt 38,485
Total Equity 421,356.29
Total Capital 459,841.29
Debt Weighting 8.37
Equity Weighting 91.63
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 53,67044,65064,21579,18486,15398,887.26113,503.78130,280.76149,537.54171,640.67
Operating Cash Flow 11,64710,89818,64717,83518,40023,540.7027,020.2531,014.1135,598.3040,860.08
Capital Expenditure -3,388-2,465-3,255-5,082-6,807-6,174.78-7,087.47-8,135.07-9,337.51-10,717.69
Free Cash Flow 8,2598,43315,39212,75311,59317,365.9219,932.7822,879.0426,260.7930,142.39
WACC
PV LFCF 15,998.0916,916.4117,887.4518,914.2219,999.94
SUM PV LFCF 89,716.10

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.55
Free cash flow (t + 1) 30,745.24
Terminal Value 469,393.01
Present Value of Terminal Value 311,449.39

Intrinsic Value

Enterprise Value 401,165.49
Net Debt 32,099
Equity Value 369,066.49
Shares Outstanding 500.30
Equity Value Per Share 737.68