Discounted Cash Flow (DCF) Analysis Levered
MPLX LP (MPLX)
$35.03
+0.11 (+0.32%)
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 | 6,079 | 8,625 | 8,246 | 9,575 | 10,541 | 12,219.48 | 14,165.23 | 16,420.81 | 19,035.55 | 22,066.64 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 2,826 | 4,082 | 4,521 | 4,911 | 5,019 | 6,049.76 | 7,013.09 | 8,129.81 | 9,424.34 | 10,925.01 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1,919 | -2,408 | -1,183 | -529 | -806 | -2,126.29 | -2,464.86 | -2,857.35 | -3,312.34 | -3,839.77 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 907 | 1,674 | 3,338 | 4,382 | 4,213 | 3,923.48 | 4,548.23 | 5,272.46 | 6,112.01 | 7,085.24 |
Weighted Average Cost Of Capital
Share price | $ 35.03 |
---|---|
Beta | 1.396 |
Diluted Shares Outstanding | 1,010 |
Cost of Debt | |
Tax Rate | 1.05 |
After-tax Cost of Debt | 4.51% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.027 |
Total Debt | 20,301 |
Total Equity | 35,380.30 |
Total Capital | 55,681.30 |
Debt Weighting | 36.46 |
Equity Weighting | 63.54 |
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 | 6,079 | 8,625 | 8,246 | 9,575 | 10,541 | 12,219.48 | 14,165.23 | 16,420.81 | 19,035.55 | 22,066.64 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 2,826 | 4,082 | 4,521 | 4,911 | 5,019 | 6,049.76 | 7,013.09 | 8,129.81 | 9,424.34 | 10,925.01 |
Capital Expenditure | -1,919 | -2,408 | -1,183 | -529 | -806 | -2,126.29 | -2,464.86 | -2,857.35 | -3,312.34 | -3,839.77 |
Free Cash Flow | 907 | 1,674 | 3,338 | 4,382 | 4,213 | 3,923.48 | 4,548.23 | 5,272.46 | 6,112.01 | 7,085.24 |
WACC | ||||||||||
PV LFCF | 3,611.12 | 3,852.85 | 4,110.77 | 4,385.96 | 4,679.57 | |||||
SUM PV LFCF | 20,640.28 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.65 |
Free cash flow (t + 1) | 7,226.95 |
Terminal Value | 108,675.89 |
Present Value of Terminal Value | 71,776.87 |
Intrinsic Value
Enterprise Value | 92,417.15 |
---|---|
Net Debt | 20,063 |
Equity Value | 72,354.15 |
Shares Outstanding | 1,010 |
Equity Value Per Share | 71.64 |