Discounted Cash Flow (DCF) Analysis Levered
PPL Corporation (PPL)
$28.655
-0.00 (-0.02%)
All numbers are in Millions, Currency in USD
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 | 7,447 | 7,785 | 7,769 | 7,607 | 5,783 | 5,468.84 | 5,171.75 | 4,890.79 | 4,625.10 | 4,373.84 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2,461 | 2,821 | 2,427 | 2,746 | 2,270 | 1,923.65 | 1,819.15 | 1,720.33 | 1,626.87 | 1,538.49 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -3,171 | -3,238 | -3,083 | -3,249 | -1,973 | -2,195.03 | -2,075.78 | -1,963.02 | -1,856.38 | -1,755.53 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -710 | -417 | -656 | -503 | 297 | -271.37 | -256.63 | -242.69 | -229.51 | -217.04 |
Weighted Average Cost Of Capital
| Share price | $ 28.655 |
|---|---|
| Beta | 0.806 |
| Diluted Shares Outstanding | 764.82 |
| Cost of Debt | |
| Tax Rate | 384.07 |
| After-tax Cost of Debt | -23.27% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.422 |
| Total Debt | 11,209 |
| Total Equity | 21,915.89 |
| Total Capital | 33,124.89 |
| Debt Weighting | 33.84 |
| Equity Weighting | 66.16 |
| 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 | 7,447 | 7,785 | 7,769 | 7,607 | 5,783 | 5,468.84 | 5,171.75 | 4,890.79 | 4,625.10 | 4,373.84 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2,461 | 2,821 | 2,427 | 2,746 | 2,270 | 1,923.65 | 1,819.15 | 1,720.33 | 1,626.87 | 1,538.49 |
| Capital Expenditure | -3,171 | -3,238 | -3,083 | -3,249 | -1,973 | -2,195.03 | -2,075.78 | -1,963.02 | -1,856.38 | -1,755.53 |
| Free Cash Flow | -710 | -417 | -656 | -503 | 297 | -271.37 | -256.63 | -242.69 | -229.51 | -217.04 |
| WACC | ||||||||||
| PV LFCF | -324.98 | -316.70 | -308.64 | -300.77 | -293.11 | |||||
| SUM PV LFCF | -1,328.80 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | -2.96 |
| Free cash flow (t + 1) | -221.38 |
| Terminal Value | 4,463.28 |
| Present Value of Terminal Value | 5,186.81 |
Intrinsic Value
| Enterprise Value | 3,858.01 |
|---|---|
| Net Debt | 7,638 |
| Equity Value | -3,779.99 |
| Shares Outstanding | 764.82 |
| Equity Value Per Share | -4.94 |