Discounted Cash Flow (DCF) Analysis Levered
Oi S.A. (OIBR3.SA)
$1.59
-0.02 (-1.24%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
Revenue | 25,996 | 23,789.65 | 22,060.01 | 20,136.18 | 9,284.30 | 7,465.25 | 6,002.60 | 4,826.52 | 3,880.87 | 3,120.50 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 3,100.32 | 4,401.76 | 2,862.54 | 2,311.64 | 4,406.70 | 1,528.12 | 1,228.72 | 987.98 | 794.41 | 638.76 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -3,263.57 | -4,344.24 | -5,246.24 | -7,425.51 | -3,455.14 | -1,921.38 | -1,544.93 | -1,242.23 | -998.84 | -803.14 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -163.25 | 57.52 | -2,383.70 | -5,113.87 | 951.57 | -393.25 | -316.20 | -254.25 | -204.44 | -164.38 |
Weighted Average Cost Of Capital
Share price | $ 1.59 |
---|---|
Beta | 1.181 |
Diluted Shares Outstanding | 57,964.48 |
Cost of Debt | |
Tax Rate | 25.25 |
After-tax Cost of Debt | 19.04% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.104 |
Total Debt | 29,325.41 |
Total Equity | 92,163.52 |
Total Capital | 121,488.94 |
Debt Weighting | 24.14 |
Equity Weighting | 75.86 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
Revenue | 25,996 | 23,789.65 | 22,060.01 | 20,136.18 | 9,284.30 | 7,465.25 | 6,002.60 | 4,826.52 | 3,880.87 | 3,120.50 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 3,100.32 | 4,401.76 | 2,862.54 | 2,311.64 | 4,406.70 | 1,528.12 | 1,228.72 | 987.98 | 794.41 | 638.76 |
Capital Expenditure | -3,263.57 | -4,344.24 | -5,246.24 | -7,425.51 | -3,455.14 | -1,921.38 | -1,544.93 | -1,242.23 | -998.84 | -803.14 |
Free Cash Flow | -163.25 | 57.52 | -2,383.70 | -5,113.87 | 951.57 | -393.25 | -316.20 | -254.25 | -204.44 | -164.38 |
WACC | ||||||||||
PV LFCF | -204.66 | -147.59 | -106.43 | -76.75 | -55.35 | |||||
SUM PV LFCF | -1,018.11 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 11.50 |
Free cash flow (t + 1) | -167.67 |
Terminal Value | -1,764.94 |
Present Value of Terminal Value | -1,024.13 |
Intrinsic Value
Enterprise Value | -2,042.24 |
---|---|
Net Debt | 25,217.47 |
Equity Value | -27,259.71 |
Shares Outstanding | 57,964.48 |
Equity Value Per Share | -0.47 |