Discounted Cash Flow (DCF) Analysis Levered

NXP Semiconductors N.V. (NXPI)

$156.44

+2.93 (+1.91%)
All numbers are in Millions, Currency in USD
Stock DCF: 127.92 | 156.44 | overvalue

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 9,2569,4078,8778,61211,06311,656.8712,282.6212,941.9613,636.7014,368.72
Revenue (%)
Operating Cash Flow 2,4474,3692,3732,4823,0773,642.703,838.244,044.284,261.384,490.13
Operating Cash Flow (%)
Capital Expenditure -618-661-628-522-932-822.13-866.26-912.76-961.76-1,013.39
Capital Expenditure (%)
Free Cash Flow 1,8293,7081,7451,9602,1452,820.572,971.983,131.523,299.623,476.74

Weighted Average Cost Of Capital

Share price $ 156.44
Beta 1.500
Diluted Shares Outstanding 268.55
Cost of Debt
Tax Rate 14.17
After-tax Cost of Debt 4.29%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.784
Total Debt 10,572
Total Equity 42,011.18
Total Capital 52,583.18
Debt Weighting 20.11
Equity Weighting 79.89
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 9,2569,4078,8778,61211,06311,656.8712,282.6212,941.9613,636.7014,368.72
Operating Cash Flow 2,4474,3692,3732,4823,0773,642.703,838.244,044.284,261.384,490.13
Capital Expenditure -618-661-628-522-932-822.13-866.26-912.76-961.76-1,013.39
Free Cash Flow 1,8293,7081,7451,9602,1452,820.572,971.983,131.523,299.623,476.74
WACC
PV LFCF 2,576.332,479.572,386.442,296.812,210.54
SUM PV LFCF 11,949.69

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.48
Free cash flow (t + 1) 3,546.28
Terminal Value 47,410.15
Present Value of Terminal Value 30,143.76

Intrinsic Value

Enterprise Value 42,093.44
Net Debt 7,742
Equity Value 34,351.44
Shares Outstanding 268.55
Equity Value Per Share 127.92