Discounted Cash Flow (DCF) Analysis Levered
Monster Beverage Corporation (MNST)
$86.76
+0.14 (+0.16%)
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 | 3,369.05 | 3,807.18 | 4,200.82 | 4,598.64 | 5,541.35 | 6,279.93 | 7,116.95 | 8,065.53 | 9,140.55 | 10,358.85 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 987.73 | 1,161.88 | 1,113.76 | 1,364.16 | 1,155.74 | 1,719.07 | 1,948.20 | 2,207.86 | 2,502.14 | 2,835.63 |
| 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 | 894.60 | 1,086.96 | 1,003.36 | 1,296.89 | 1,154.73 | 1,608.02 | 1,822.35 | 2,065.24 | 2,340.51 | 2,652.46 |
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 | 3,369.05 | 3,807.18 | 4,200.82 | 4,598.64 | 5,541.35 | 6,279.93 | 7,116.95 | 8,065.53 | 9,140.55 | 10,358.85 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 987.73 | 1,161.88 | 1,113.76 | 1,364.16 | 1,155.74 | 1,719.07 | 1,948.20 | 2,207.86 | 2,502.14 | 2,835.63 |
| 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 | 894.60 | 1,086.96 | 1,003.36 | 1,296.89 | 1,154.73 | 1,608.02 | 1,822.35 | 2,065.24 | 2,340.51 | 2,652.46 |
| WACC | ||||||||||
| PV LFCF | 1,485.61 | 1,555.45 | 1,628.57 | 1,705.13 | 1,785.29 | |||||
| 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 |