Discounted Cash Flow (DCF) Analysis Levered
NextEra Energy, Inc. (NEE)
$75.44
-0.07 (-0.09%)
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 | 17,195 | 16,727 | 19,204 | 17,997 | 17,069 | 17,096.53 | 17,124.10 | 17,151.72 | 17,179.38 | 17,207.09 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 6,413 | 6,593 | 8,155 | 7,983 | 7,553 | 7,104.75 | 7,116.21 | 7,127.68 | 7,139.18 | 7,150.69 |
| 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 | 968 | 583 | -2,922 | 224 | -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 | 17,195 | 16,727 | 19,204 | 17,997 | 17,069 | 17,096.53 | 17,124.10 | 17,151.72 | 17,179.38 | 17,207.09 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 6,413 | 6,593 | 8,155 | 7,983 | 7,553 | 7,104.75 | 7,116.21 | 7,127.68 | 7,139.18 | 7,150.69 |
| 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 | 968 | 583 | -2,922 | 224 | -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 |