Discounted Cash Flow (DCF) Analysis Levered

NOV Inc. (NOV)

$17.1

+0.20 (+1.18%)
All numbers are in Millions, Currency in USD
Stock DCF: 2.51 | 17.1 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 8,4796,0905,5247,2378,5728,828.899,093.499,366.019,646.709,935.80
Revenue (%)
Operating Cash Flow 714926291-179143495.99510.85526.16541.93558.17
Operating Cash Flow (%)
Capital Expenditure -233-226-201-214-283-288.81-297.47-306.38-315.56-325.02
Capital Expenditure (%)
Free Cash Flow 48170090-393-140207.17213.38219.78226.36233.15

Weighted Average Cost Of Capital

Share price $ 17.1
Beta 1.777
Diluted Shares Outstanding 397
Cost of Debt
Tax Rate -62.25
After-tax Cost of Debt 4.16%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.546
Total Debt 2,377
Total Equity 6,788.70
Total Capital 9,165.70
Debt Weighting 25.93
Equity Weighting 74.07
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 8,4796,0905,5247,2378,5728,828.899,093.499,366.019,646.709,935.80
Operating Cash Flow 714926291-179143495.99510.85526.16541.93558.17
Capital Expenditure -233-226-201-214-283-288.81-297.47-306.38-315.56-325.02
Free Cash Flow 48170090-393-140207.17213.38219.78226.36233.15
WACC
PV LFCF 187.71175.17163.47152.55142.36
SUM PV LFCF 821.25

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.37
Free cash flow (t + 1) 237.81
Terminal Value 2,841.22
Present Value of Terminal Value 1,734.80

Intrinsic Value

Enterprise Value 2,556.05
Net Debt 1,561
Equity Value 995.05
Shares Outstanding 397
Equity Value Per Share 2.51