Discounted Cash Flow (DCF) Analysis Levered

Monster Beverage Corporation (MNST)

$86.76

+0.14 (+0.16%)
All numbers are in Millions, Currency in USD
Stock DCF: 72.16 | 86.76 | overvalue

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 3,369.053,807.184,200.824,598.645,541.356,279.937,116.958,065.539,140.5510,358.85
Revenue (%)
Operating Cash Flow 987.731,161.881,113.761,364.161,155.741,719.071,948.202,207.862,502.142,835.63
Operating Cash Flow (%)
Capital Expenditure -93.13-74.93-110.40-67.27-1.01-111.05-125.85-142.62-161.63-183.17
Capital Expenditure (%)
Free Cash Flow 894.601,086.961,003.361,296.891,154.731,608.021,822.352,065.242,340.512,652.46

Weighted Average Cost Of Capital

Share price $ 86.76
Beta 1.141
Diluted Shares Outstanding 535.91
Cost of Debt
Tax Rate 23.53
After-tax Cost of Debt 3.82%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.241
Total Debt -
Total Equity 46,495.99
Total Capital 46,495.99
Debt Weighting 0.00
Equity Weighting 100.00
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 3,369.053,807.184,200.824,598.645,541.356,279.937,116.958,065.539,140.5510,358.85
Operating Cash Flow 987.731,161.881,113.761,364.161,155.741,719.071,948.202,207.862,502.142,835.63
Capital Expenditure -93.13-74.93-110.40-67.27-1.01-111.05-125.85-142.62-161.63-183.17
Free Cash Flow 894.601,086.961,003.361,296.891,154.731,608.021,822.352,065.242,340.512,652.46
WACC
PV LFCF 1,485.611,555.451,628.571,705.131,785.29
SUM PV LFCF 8,160.06

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.24
Free cash flow (t + 1) 2,705.51
Terminal Value 43,357.52
Present Value of Terminal Value 29,182.70

Intrinsic Value

Enterprise Value 37,342.76
Net Debt -1,326.46
Equity Value 38,669.22
Shares Outstanding 535.91
Equity Value Per Share 72.16