Discounted Cash Flow (DCF) Analysis Levered
Nielsen Holdings plc (NLSN)
$27.98
0.00 (0.00%)
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 | 6,572 | 6,515 | 6,498 | 6,290 | 3,500 | 3,074 | 2,699.86 | 2,371.25 | 2,082.63 | 1,829.15 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,310 | 1,058 | 1,066 | 999 | 666 | 537.88 | 472.41 | 414.91 | 364.41 | 320.06 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -489 | -520 | -519 | -519 | -341 | -254.55 | -223.57 | -196.36 | -172.46 | -151.47 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 821 | 538 | 547 | 480 | 325 | 283.33 | 248.85 | 218.56 | 191.96 | 168.59 |
Weighted Average Cost Of Capital
Share price | $ 27.98 |
---|---|
Beta | 1.178 |
Diluted Shares Outstanding | 360.45 |
Cost of Debt | |
Tax Rate | -0.36 |
After-tax Cost of Debt | 4.95% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.102 |
Total Debt | 5,752 |
Total Equity | 10,085.41 |
Total Capital | 15,837.41 |
Debt Weighting | 36.32 |
Equity Weighting | 63.68 |
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 | 6,572 | 6,515 | 6,498 | 6,290 | 3,500 | 3,074 | 2,699.86 | 2,371.25 | 2,082.63 | 1,829.15 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,310 | 1,058 | 1,066 | 999 | 666 | 537.88 | 472.41 | 414.91 | 364.41 | 320.06 |
Capital Expenditure | -489 | -520 | -519 | -519 | -341 | -254.55 | -223.57 | -196.36 | -172.46 | -151.47 |
Free Cash Flow | 821 | 538 | 547 | 480 | 325 | 283.33 | 248.85 | 218.56 | 191.96 | 168.59 |
WACC | ||||||||||
PV LFCF | 261.79 | 212.44 | 172.39 | 139.90 | 113.53 | |||||
SUM PV LFCF | 900.05 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.23 |
Free cash flow (t + 1) | 171.97 |
Terminal Value | 2,760.27 |
Present Value of Terminal Value | 1,858.72 |
Intrinsic Value
Enterprise Value | 2,758.77 |
---|---|
Net Debt | 5,372 |
Equity Value | -2,613.23 |
Shares Outstanding | 360.45 |
Equity Value Per Share | -7.25 |