Discounted Cash Flow (DCF) Analysis Levered
Murphy Oil Corporation (MUR)
$40.93
-0.70 (-1.68%)
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 | 2,097.70 | 2,586.63 | 2,817.11 | 1,751.71 | 2,801.22 | 3,181.57 | 3,613.57 | 4,104.23 | 4,661.51 | 5,294.47 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,140.58 | 1,219.40 | 1,562.89 | 801.51 | 1,422.16 | 1,613.18 | 1,832.22 | 2,081 | 2,363.56 | 2,684.49 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1,009.67 | -1,897.43 | -2,556.59 | -872.77 | -688.21 | -1,823.88 | -2,071.53 | -2,352.81 | -2,672.28 | -3,035.13 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 130.91 | -678.03 | -993.70 | -71.26 | 733.95 | -210.70 | -239.31 | -271.81 | -308.71 | -350.63 |
Weighted Average Cost Of Capital
| Share price | $ 40.93 |
|---|---|
| Beta | 2.445 |
| Diluted Shares Outstanding | 153.51 |
| Cost of Debt | |
| Tax Rate | 271.75 |
| After-tax Cost of Debt | -16.63% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 15.155 |
| Total Debt | 2,465.40 |
| Total Equity | 6,283.04 |
| Total Capital | 8,748.44 |
| Debt Weighting | 28.18 |
| Equity Weighting | 71.82 |
| 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 | 2,097.70 | 2,586.63 | 2,817.11 | 1,751.71 | 2,801.22 | 3,181.57 | 3,613.57 | 4,104.23 | 4,661.51 | 5,294.47 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,140.58 | 1,219.40 | 1,562.89 | 801.51 | 1,422.16 | 1,613.18 | 1,832.22 | 2,081 | 2,363.56 | 2,684.49 |
| Capital Expenditure | -1,009.67 | -1,897.43 | -2,556.59 | -872.77 | -688.21 | -1,823.88 | -2,071.53 | -2,352.81 | -2,672.28 | -3,035.13 |
| Free Cash Flow | 130.91 | -678.03 | -993.70 | -71.26 | 733.95 | -210.70 | -239.31 | -271.81 | -308.71 | -350.63 |
| WACC | ||||||||||
| PV LFCF | -146.87 | -157.07 | -167.98 | -179.65 | -192.13 | |||||
| SUM PV LFCF | -1,139.76 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.20 |
| Free cash flow (t + 1) | -357.64 |
| Terminal Value | -8,515.32 |
| Present Value of Terminal Value | -6,303.45 |
Intrinsic Value
| Enterprise Value | -7,443.21 |
|---|---|
| Net Debt | 1,944.20 |
| Equity Value | -9,387.41 |
| Shares Outstanding | 153.51 |
| Equity Value Per Share | -61.15 |