Discounted Cash Flow (DCF) Analysis Levered
OneConnect Financial Technology Co.... (OCFT)
$3.33
-0.42 (-11.20%)
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 | 226.16 | 372.46 | 529.97 | 661.18 | 714.24 | 963.80 | 1,300.55 | 1,754.97 | 2,368.17 | 3,195.62 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -78.28 | -290.79 | -112.66 | -64.69 | -119.36 | -309.27 | -417.32 | -563.14 | -759.90 | -1,025.41 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -73.57 | -50.31 | -42.43 | -119.11 | -128.67 | -173.63 | -234.29 | -316.16 | -426.62 | -575.68 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -151.85 | -341.11 | -155.09 | -183.80 | -248.03 | -482.89 | -651.62 | -879.29 | -1,186.52 | -1,601.10 |
Weighted Average Cost Of Capital
| Share price | $ 3.33 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 3,683.04 |
| Cost of Debt | |
| Tax Rate | 11.91 |
| After-tax Cost of Debt | 11.33% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.810 |
| Total Debt | 46.25 |
| Total Equity | 12,264.53 |
| Total Capital | 12,310.78 |
| Debt Weighting | 0.38 |
| Equity Weighting | 99.62 |
| 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 | 226.16 | 372.46 | 529.97 | 661.18 | 714.24 | 963.80 | 1,300.55 | 1,754.97 | 2,368.17 | 3,195.62 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -78.28 | -290.79 | -112.66 | -64.69 | -119.36 | -309.27 | -417.32 | -563.14 | -759.90 | -1,025.41 |
| Capital Expenditure | -73.57 | -50.31 | -42.43 | -119.11 | -128.67 | -173.63 | -234.29 | -316.16 | -426.62 | -575.68 |
| Free Cash Flow | -151.85 | -341.11 | -155.09 | -183.80 | -248.03 | -482.89 | -651.62 | -879.29 | -1,186.52 | -1,601.10 |
| WACC | ||||||||||
| PV LFCF | -465.03 | -604.31 | -785.31 | -1,020.51 | -1,326.16 | |||||
| SUM PV LFCF | -4,201.32 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.84 |
| Free cash flow (t + 1) | -1,633.12 |
| Terminal Value | -88,756.58 |
| Present Value of Terminal Value | -73,515.21 |
Intrinsic Value
| Enterprise Value | -77,716.53 |
|---|---|
| Net Debt | -258.99 |
| Equity Value | -77,457.54 |
| Shares Outstanding | 3,683.04 |
| Equity Value Per Share | -21.03 |