Discounted Cash Flow (DCF) Analysis Levered

NextEra Energy, Inc. (NEE)

$75.44

-0.07 (-0.09%)
All numbers are in Millions, Currency in USD
Stock DCF: -31.01 | 75.44 | overvalue

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 17,19516,72719,20417,99717,06917,096.5317,124.1017,151.7217,179.3817,207.09
Revenue (%)
Operating Cash Flow 6,4136,5938,1557,9837,5537,104.757,116.217,127.687,139.187,150.69
Operating Cash Flow (%)
Capital Expenditure -5,445-6,010-11,077-7,759-7,830-7,326.28-7,338.09-7,349.93-7,361.78-7,373.66
Capital Expenditure (%)
Free Cash Flow 968583-2,922224-277-221.53-221.89-222.25-222.60-222.96

Weighted Average Cost Of Capital

Share price $ 75.44
Beta 0.488
Diluted Shares Outstanding 1,972.20
Cost of Debt
Tax Rate -12.54
After-tax Cost of Debt 2.32%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.943
Total Debt 54,827
Total Equity 148,782.77
Total Capital 203,609.77
Debt Weighting 26.93
Equity Weighting 73.07
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 17,19516,72719,20417,99717,06917,096.5317,124.1017,151.7217,179.3817,207.09
Operating Cash Flow 6,4136,5938,1557,9837,5537,104.757,116.217,127.687,139.187,150.69
Capital Expenditure -5,445-6,010-11,077-7,759-7,830-7,326.28-7,338.09-7,349.93-7,361.78-7,373.66
Free Cash Flow 968583-2,922224-277-221.53-221.89-222.25-222.60-222.96
WACC
PV LFCF -211.04-201.37-192.15-183.35-174.95
SUM PV LFCF -962.86

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.97
Free cash flow (t + 1) -227.42
Terminal Value -7,657.33
Present Value of Terminal Value -6,008.30

Intrinsic Value

Enterprise Value -6,971.16
Net Debt 54,188
Equity Value -61,159.16
Shares Outstanding 1,972.20
Equity Value Per Share -31.01