Discounted Cash Flow (DCF) Analysis Levered
Methanex Corporation (MEOH)
$45.77
+0.89 (+1.98%)
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 | 3,931.85 | 2,784.49 | 2,649.96 | 4,414.56 | 4,311.19 | 4,637.06 | 4,987.57 | 5,364.58 | 5,770.08 | 6,206.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 980.21 | 515.43 | 461.08 | 993.93 | 977.76 | 983.38 | 1,057.71 | 1,137.66 | 1,223.65 | 1,316.15 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -244.48 | -323.86 | -341.82 | -245.44 | -577.38 | -460.92 | -495.76 | -533.24 | -573.54 | -616.90 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 735.73 | 191.57 | 119.27 | 748.49 | 400.38 | 522.45 | 561.95 | 604.42 | 650.11 | 699.25 |
Weighted Average Cost Of Capital
| Share price | $ 45.77 |
|---|---|
| Beta | 2.003 |
| Diluted Shares Outstanding | 71.68 |
| Cost of Debt | |
| Tax Rate | 39.22 |
| After-tax Cost of Debt | 2.64% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.053 |
| Total Debt | 3,021.68 |
| Total Equity | 3,280.68 |
| Total Capital | 6,302.35 |
| Debt Weighting | 47.95 |
| Equity Weighting | 52.05 |
| 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 | 3,931.85 | 2,784.49 | 2,649.96 | 4,414.56 | 4,311.19 | 4,637.06 | 4,987.57 | 5,364.58 | 5,770.08 | 6,206.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 980.21 | 515.43 | 461.08 | 993.93 | 977.76 | 983.38 | 1,057.71 | 1,137.66 | 1,223.65 | 1,316.15 |
| Capital Expenditure | -244.48 | -323.86 | -341.82 | -245.44 | -577.38 | -460.92 | -495.76 | -533.24 | -573.54 | -616.90 |
| Free Cash Flow | 735.73 | 191.57 | 119.27 | 748.49 | 400.38 | 522.45 | 561.95 | 604.42 | 650.11 | 699.25 |
| WACC | ||||||||||
| PV LFCF | 481.17 | 476.64 | 472.16 | 467.72 | 463.32 | |||||
| SUM PV LFCF | 2,361.02 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.58 |
| Free cash flow (t + 1) | 713.24 |
| Terminal Value | 10,839.45 |
| Present Value of Terminal Value | 7,182.21 |
Intrinsic Value
| Enterprise Value | 9,543.23 |
|---|---|
| Net Debt | 2,163.93 |
| Equity Value | 7,379.31 |
| Shares Outstanding | 71.68 |
| Equity Value Per Share | 102.95 |