Discounted Cash Flow (DCF) Analysis Levered

NXP Semiconductors N.V. (NXPI)

$257.51

+7.78 (+3.12%)
All numbers are in Millions, Currency in USD
Stock DCF: 196.58 | 257.51 | 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 8,8778,61211,06313,20513,27614,781.9816,458.8018,325.8220,404.6422,719.27
Revenue (%)
Operating Cash Flow 2,3732,4823,0773,8953,5134,118.954,586.195,106.435,685.696,330.65
Operating Cash Flow (%)
Capital Expenditure -628-522-932-1,227-1,006-1,136.14-1,265.02-1,408.51-1,568.29-1,746.19
Capital Expenditure (%)
Free Cash Flow 1,7451,9602,1452,6682,5072,982.813,321.173,697.924,117.394,584.46

Weighted Average Cost Of Capital

Share price $ 257.51
Beta 1.578
Diluted Shares Outstanding 261.37
Cost of Debt
Tax Rate 16.56
After-tax Cost of Debt 3.47%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.607
Total Debt 11,175
Total Equity 67,305.39
Total Capital 78,480.39
Debt Weighting 14.24
Equity Weighting 85.76
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 8,8778,61211,06313,20513,27614,781.9816,458.8018,325.8220,404.6422,719.27
Operating Cash Flow 2,3732,4823,0773,8953,5134,118.954,586.195,106.435,685.696,330.65
Capital Expenditure -628-522-932-1,227-1,006-1,136.14-1,265.02-1,408.51-1,568.29-1,746.19
Free Cash Flow 1,7451,9602,1452,6682,5072,982.813,321.173,697.924,117.394,584.46
WACC
PV LFCF 2,700.602,722.452,744.482,766.682,789.07
SUM PV LFCF 13,723.29

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.45
Free cash flow (t + 1) 4,767.84
Terminal Value 73,919.93
Present Value of Terminal Value 44,971.04

Intrinsic Value

Enterprise Value 58,694.33
Net Debt 7,313
Equity Value 51,381.33
Shares Outstanding 261.37
Equity Value Per Share 196.58