Discounted Cash Flow (DCF) Analysis Levered
New Fortress Energy Inc. (NFE)
$29.3
+0.15 (+0.51%)
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 | 112.30 | 189.13 | 451.65 | 1,322.81 | 2,368.27 | 5,205.09 | 11,439.96 | 25,143.21 | 55,260.79 | 121,454.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -93.23 | -234.26 | -125.57 | 84.77 | 355.11 | -2,220.28 | -4,879.82 | -10,725.07 | -23,572.02 | -51,807.55 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -181.15 | -377.05 | -156.99 | -669.35 | -1,174.01 | -5,159.36 | -11,339.46 | -24,922.33 | -54,775.34 | -120,387.51 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -274.38 | -611.31 | -282.56 | -584.58 | -818.90 | -7,379.64 | -16,219.28 | -35,647.41 | -78,347.35 | -172,195.06 |
Weighted Average Cost Of Capital
| Share price | $ 29.3 |
|---|---|
| Beta | 1.588 |
| Diluted Shares Outstanding | 209.85 |
| Cost of Debt | |
| Tax Rate | -217.01 |
| After-tax Cost of Debt | 4.84% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.187 |
| Total Debt | 4,892.55 |
| Total Equity | 6,148.73 |
| Total Capital | 11,041.28 |
| Debt Weighting | 44.31 |
| Equity Weighting | 55.69 |
| 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 | 112.30 | 189.13 | 451.65 | 1,322.81 | 2,368.27 | 5,205.09 | 11,439.96 | 25,143.21 | 55,260.79 | 121,454.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -93.23 | -234.26 | -125.57 | 84.77 | 355.11 | -2,220.28 | -4,879.82 | -10,725.07 | -23,572.02 | -51,807.55 |
| Capital Expenditure | -181.15 | -377.05 | -156.99 | -669.35 | -1,174.01 | -5,159.36 | -11,339.46 | -24,922.33 | -54,775.34 | -120,387.51 |
| Free Cash Flow | -274.38 | -611.31 | -282.56 | -584.58 | -818.90 | -7,379.64 | -16,219.28 | -35,647.41 | -78,347.35 | -172,195.06 |
| WACC | ||||||||||
| PV LFCF | -6,809.67 | -13,810.63 | -28,009.20 | -56,805.19 | -115,206.06 | |||||
| SUM PV LFCF | -220,640.75 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.37 |
| Free cash flow (t + 1) | -175,638.96 |
| Terminal Value | -2,757,283.54 |
| Present Value of Terminal Value | -1,844,743.81 |
Intrinsic Value
| Enterprise Value | -2,065,384.56 |
|---|---|
| Net Debt | 4,217.06 |
| Equity Value | -2,069,601.61 |
| Shares Outstanding | 209.85 |
| Equity Value Per Share | -9,862.08 |