Discounted Cash Flow (DCF) Analysis Levered
MasTec, Inc. (MTZ)
$105.63
+3.76 (+3.69%)
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 | 6,909.42 | 7,183.19 | 6,320.98 | 7,951.78 | 9,778.04 | 10,773.58 | 11,870.48 | 13,079.06 | 14,410.70 | 15,877.91 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 529.96 | 550.28 | 937.25 | 793.07 | 352.30 | 942.36 | 1,038.31 | 1,144.02 | 1,260.50 | 1,388.84 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -180.42 | -126.47 | -213.75 | -170.07 | -263.35 | -271.18 | -298.79 | -329.21 | -362.73 | -399.66 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 349.54 | 423.81 | 723.51 | 623.01 | 88.95 | 671.18 | 739.52 | 814.81 | 897.77 | 989.17 |
Weighted Average Cost Of Capital
| Share price | $ 105.63 |
|---|---|
| Beta | 1.364 |
| Diluted Shares Outstanding | 76.19 |
| Cost of Debt | |
| Tax Rate | 22.54 |
| After-tax Cost of Debt | 2.47% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.130 |
| Total Debt | 3,514.68 |
| Total Equity | 8,047.42 |
| Total Capital | 11,562.10 |
| Debt Weighting | 30.40 |
| Equity Weighting | 69.60 |
| 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 | 6,909.42 | 7,183.19 | 6,320.98 | 7,951.78 | 9,778.04 | 10,773.58 | 11,870.48 | 13,079.06 | 14,410.70 | 15,877.91 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 529.96 | 550.28 | 937.25 | 793.07 | 352.30 | 942.36 | 1,038.31 | 1,144.02 | 1,260.50 | 1,388.84 |
| Capital Expenditure | -180.42 | -126.47 | -213.75 | -170.07 | -263.35 | -271.18 | -298.79 | -329.21 | -362.73 | -399.66 |
| Free Cash Flow | 349.54 | 423.81 | 723.51 | 623.01 | 88.95 | 671.18 | 739.52 | 814.81 | 897.77 | 989.17 |
| WACC | ||||||||||
| PV LFCF | 622.62 | 636.37 | 650.43 | 664.80 | 679.48 | |||||
| SUM PV LFCF | 3,253.70 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.80 |
| Free cash flow (t + 1) | 1,008.96 |
| Terminal Value | 17,395.83 |
| Present Value of Terminal Value | 11,949.55 |
Intrinsic Value
| Enterprise Value | 15,203.25 |
|---|---|
| Net Debt | 3,144.08 |
| Equity Value | 12,059.16 |
| Shares Outstanding | 76.19 |
| Equity Value Per Share | 158.29 |