Discounted Cash Flow (DCF) Analysis Levered

Monster Beverage Corporation (MNST)

$56.9

-1.43 (-2.45%)
All numbers are in Millions, Currency in USD
Stock DCF: 19.31 | 56.9 | overvalue

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 3,807.184,200.824,598.645,541.356,311.057,166.198,137.199,239.7610,491.7411,913.35
Revenue (%)
Operating Cash Flow 1,161.881,113.761,364.161,155.74887.701,743.081,979.262,247.442,551.972,897.76
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 1,086.961,003.361,296.891,098.29675.551,593.201,809.072,054.202,332.542,648.59

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 3,807.184,200.824,598.645,541.356,311.057,166.198,137.199,239.7610,491.7411,913.35
Operating Cash Flow 1,161.881,113.761,364.161,155.74887.701,743.081,979.262,247.442,551.972,897.76
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 1,086.961,003.361,296.891,098.29675.551,593.201,809.072,054.202,332.542,648.59
WACC
PV LFCF 1,477.651,556.171,638.871,725.961,817.69
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