Discounted Cash Flow (DCF) Analysis Levered
Nutrien Ltd. (NTR)
$58.64
-0.30 (-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 | 19,636 | 20,023 | 20,908 | 27,712 | 37,884 | 45,047.81 | 53,566.30 | 63,695.61 | 75,740.37 | 90,062.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2,052 | 3,665 | 3,323 | 3,886 | 8,110 | 7,214.66 | 8,578.95 | 10,201.21 | 12,130.25 | 14,424.07 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1,405 | -1,891 | -1,549 | -1,783 | -2,438 | -3,322.50 | -3,950.78 | -4,697.87 | -5,586.23 | -6,642.58 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 647 | 1,774 | 1,774 | 2,103 | 5,672 | 3,892.16 | 4,628.17 | 5,503.35 | 6,544.02 | 7,781.49 |
Weighted Average Cost Of Capital
| Share price | $ 58.64 |
|---|---|
| Beta | 0.874 |
| Diluted Shares Outstanding | 571.29 |
| Cost of Debt | |
| Tax Rate | 25.24 |
| After-tax Cost of Debt | 3.53% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.879 |
| Total Debt | 11,928 |
| Total Equity | 33,500.39 |
| Total Capital | 45,428.39 |
| Debt Weighting | 26.26 |
| Equity Weighting | 73.74 |
| 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 | 19,636 | 20,023 | 20,908 | 27,712 | 37,884 | 45,047.81 | 53,566.30 | 63,695.61 | 75,740.37 | 90,062.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2,052 | 3,665 | 3,323 | 3,886 | 8,110 | 7,214.66 | 8,578.95 | 10,201.21 | 12,130.25 | 14,424.07 |
| Capital Expenditure | -1,405 | -1,891 | -1,549 | -1,783 | -2,438 | -3,322.50 | -3,950.78 | -4,697.87 | -5,586.23 | -6,642.58 |
| Free Cash Flow | 647 | 1,774 | 1,774 | 2,103 | 5,672 | 3,892.16 | 4,628.17 | 5,503.35 | 6,544.02 | 7,781.49 |
| WACC | ||||||||||
| PV LFCF | 3,646.40 | 4,062.14 | 4,525.28 | 5,041.22 | 5,615.99 | |||||
| SUM PV LFCF | 22,891.03 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.74 |
| Free cash flow (t + 1) | 7,937.12 |
| Terminal Value | 167,449.76 |
| Present Value of Terminal Value | 120,850.52 |
Intrinsic Value
| Enterprise Value | 143,741.55 |
|---|---|
| Net Debt | 11,027 |
| Equity Value | 132,714.55 |
| Shares Outstanding | 571.29 |
| Equity Value Per Share | 232.31 |