Discounted Cash Flow (DCF) Analysis Levered
Monster Beverage Corporation (MNST)
$56.9
-1.43 (-2.45%)
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 | 3,807.18 | 4,200.82 | 4,598.64 | 5,541.35 | 6,311.05 | 7,166.19 | 8,137.19 | 9,239.76 | 10,491.74 | 11,913.35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,161.88 | 1,113.76 | 1,364.16 | 1,155.74 | 887.70 | 1,743.08 | 1,979.26 | 2,247.44 | 2,551.97 | 2,897.76 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -74.93 | -110.40 | -67.27 | -57.45 | -212.15 | -149.88 | -170.19 | -193.25 | -219.43 | -249.16 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,086.96 | 1,003.36 | 1,296.89 | 1,098.29 | 675.55 | 1,593.20 | 1,809.07 | 2,054.20 | 2,332.54 | 2,648.59 |
Weighted Average Cost Of Capital
| Share price | $ 56.9 |
|---|---|
| Beta | 0.855 |
| Diluted Shares Outstanding | 2,142.56 |
| Cost of Debt | |
| Tax Rate | 24.20 |
| After-tax Cost of Debt | 3.79% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.820 |
| Total Debt | - |
| Total Equity | 121,911.44 |
| Total Capital | 121,911.44 |
| Debt Weighting | 0.00 |
| Equity Weighting | 100.00 |
| 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 | 3,807.18 | 4,200.82 | 4,598.64 | 5,541.35 | 6,311.05 | 7,166.19 | 8,137.19 | 9,239.76 | 10,491.74 | 11,913.35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,161.88 | 1,113.76 | 1,364.16 | 1,155.74 | 887.70 | 1,743.08 | 1,979.26 | 2,247.44 | 2,551.97 | 2,897.76 |
| Capital Expenditure | -74.93 | -110.40 | -67.27 | -57.45 | -212.15 | -149.88 | -170.19 | -193.25 | -219.43 | -249.16 |
| Free Cash Flow | 1,086.96 | 1,003.36 | 1,296.89 | 1,098.29 | 675.55 | 1,593.20 | 1,809.07 | 2,054.20 | 2,332.54 | 2,648.59 |
| WACC | ||||||||||
| PV LFCF | 1,477.65 | 1,556.17 | 1,638.87 | 1,725.96 | 1,817.69 | |||||
| SUM PV LFCF | 8,216.34 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.82 |
| Free cash flow (t + 1) | 2,701.57 |
| Terminal Value | 46,418.65 |
| Present Value of Terminal Value | 31,856.34 |
Intrinsic Value
| Enterprise Value | 40,072.67 |
|---|---|
| Net Debt | -1,307.14 |
| Equity Value | 41,379.82 |
| Shares Outstanding | 2,142.56 |
| Equity Value Per Share | 19.31 |