Discounted Cash Flow (DCF) Analysis Levered
Methanex Corporation (MEOH)
$40.16
+2.47 (+6.55%)
All numbers are in Millions, Currency in USD
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 | 3,060.64 | 4,482.70 | 3,283.51 | 2,649.96 | 4,414.56 | 5,154.06 | 6,017.44 | 7,025.45 | 8,202.32 | 9,576.33 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 787.74 | 980.21 | 515.43 | 461.08 | 993.93 | 1,063.96 | 1,242.19 | 1,450.28 | 1,693.22 | 1,976.86 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -103.17 | -244.48 | -323.86 | -341.82 | -245.44 | -382.91 | -447.05 | -521.94 | -609.37 | -711.45 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 684.57 | 735.73 | 191.57 | 119.27 | 748.49 | 681.05 | 795.14 | 928.34 | 1,083.85 | 1,265.41 |
Weighted Average Cost Of Capital
Share price | $ 40.16 |
---|---|
Beta | 2.075 |
Diluted Shares Outstanding | 76.24 |
Cost of Debt | |
Tax Rate | 27.61 |
After-tax Cost of Debt | 3.63% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 12.921 |
Total Debt | 2,875.29 |
Total Equity | 3,061.95 |
Total Capital | 5,937.24 |
Debt Weighting | 48.43 |
Equity Weighting | 51.57 |
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 | 3,060.64 | 4,482.70 | 3,283.51 | 2,649.96 | 4,414.56 | 5,154.06 | 6,017.44 | 7,025.45 | 8,202.32 | 9,576.33 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 787.74 | 980.21 | 515.43 | 461.08 | 993.93 | 1,063.96 | 1,242.19 | 1,450.28 | 1,693.22 | 1,976.86 |
Capital Expenditure | -103.17 | -244.48 | -323.86 | -341.82 | -245.44 | -382.91 | -447.05 | -521.94 | -609.37 | -711.45 |
Free Cash Flow | 684.57 | 735.73 | 191.57 | 119.27 | 748.49 | 681.05 | 795.14 | 928.34 | 1,083.85 | 1,265.41 |
WACC | ||||||||||
PV LFCF | 628.16 | 676.43 | 728.41 | 784.39 | 844.66 | |||||
SUM PV LFCF | 3,662.06 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.42 |
Free cash flow (t + 1) | 1,290.72 |
Terminal Value | 20,104.62 |
Present Value of Terminal Value | 13,419.89 |
Intrinsic Value
Enterprise Value | 17,081.95 |
---|---|
Net Debt | 1,943.22 |
Equity Value | 15,138.73 |
Shares Outstanding | 76.24 |
Equity Value Per Share | 198.56 |