Discounted Cash Flow (DCF) Analysis Levered
NICE Ltd. (NICE)
$223.71
+1.15 (+0.52%)
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 | 1,332.15 | 1,444.52 | 1,573.91 | 1,648.02 | 1,921.15 | 2,106.90 | 2,310.60 | 2,534.01 | 2,779.01 | 3,047.70 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 394.66 | 396.61 | 374.16 | 480.31 | 461.82 | 564.81 | 619.42 | 679.30 | 744.98 | 817.01 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -67.83 | -63.67 | -61.97 | -63.28 | -67.21 | -87.54 | -96 | -105.29 | -115.47 | -126.63 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 326.84 | 332.94 | 312.19 | 417.02 | 394.61 | 477.27 | 523.41 | 574.02 | 629.52 | 690.38 |
Weighted Average Cost Of Capital
Share price | $ 223.71 |
---|---|
Beta | 0.280 |
Diluted Shares Outstanding | 62.71 |
Cost of Debt | |
Tax Rate | 17.20 |
After-tax Cost of Debt | 4.14% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.962 |
Total Debt | 878.52 |
Total Equity | 14,028.85 |
Total Capital | 14,907.37 |
Debt Weighting | 5.89 |
Equity Weighting | 94.11 |
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 | 1,332.15 | 1,444.52 | 1,573.91 | 1,648.02 | 1,921.15 | 2,106.90 | 2,310.60 | 2,534.01 | 2,779.01 | 3,047.70 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 394.66 | 396.61 | 374.16 | 480.31 | 461.82 | 564.81 | 619.42 | 679.30 | 744.98 | 817.01 |
Capital Expenditure | -67.83 | -63.67 | -61.97 | -63.28 | -67.21 | -87.54 | -96 | -105.29 | -115.47 | -126.63 |
Free Cash Flow | 326.84 | 332.94 | 312.19 | 417.02 | 394.61 | 477.27 | 523.41 | 574.02 | 629.52 | 690.38 |
WACC | ||||||||||
PV LFCF | 454.93 | 475.56 | 497.13 | 519.68 | 543.26 | |||||
SUM PV LFCF | 2,490.57 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.91 |
Free cash flow (t + 1) | 704.19 |
Terminal Value | 24,198.94 |
Present Value of Terminal Value | 19,041.97 |
Intrinsic Value
Enterprise Value | 21,532.54 |
---|---|
Net Debt | 499.86 |
Equity Value | 21,032.68 |
Shares Outstanding | 62.71 |
Equity Value Per Share | 335.40 |