Discounted Cash Flow (DCF) Analysis Levered

Oceaneering International, Inc. (OII)

$21.68

+0.50 (+2.36%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.85 | 21.68 | 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 1,921.511,909.482,048.121,827.891,869.281,860.611,851.991,843.401,834.861,826.36
Revenue (%)
Operating Cash Flow 136.4836.57157.57136.65225.31134.86134.23133.61132.99132.38
Operating Cash Flow (%)
Capital Expenditure -93.68-109.47-147.68-60.69-50.20-88.66-88.24-87.84-87.43-87.02
Capital Expenditure (%)
Free Cash Flow 42.80-72.909.8975.96175.1146.2045.9945.7745.5645.35

Weighted Average Cost Of Capital

Share price $ 21.68
Beta 2.862
Diluted Shares Outstanding 99.80
Cost of Debt
Tax Rate -763.67
After-tax Cost of Debt 5.53%
Risk-Free Rate
Market Risk Premium
Cost of Equity 17.150
Total Debt 702.07
Total Equity 2,163.64
Total Capital 2,865.70
Debt Weighting 24.50
Equity Weighting 75.50
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 1,921.511,909.482,048.121,827.891,869.281,860.611,851.991,843.401,834.861,826.36
Operating Cash Flow 136.4836.57157.57136.65225.31134.86134.23133.61132.99132.38
Capital Expenditure -93.68-109.47-147.68-60.69-50.20-88.66-88.24-87.84-87.43-87.02
Free Cash Flow 42.80-72.909.8975.96175.1146.2045.9945.7745.5645.35
WACC
PV LFCF 40.4235.2030.6526.6923.25
SUM PV LFCF 156.22

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 14.30
Free cash flow (t + 1) 46.26
Terminal Value 376.09
Present Value of Terminal Value 192.78

Intrinsic Value

Enterprise Value 348.99
Net Debt 163.95
Equity Value 185.04
Shares Outstanding 99.80
Equity Value Per Share 1.85