Discounted Cash Flow (DCF) Analysis Levered
Quanta Services, Inc. (PWR)
$152.46
+0.03 (+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 | 9,466.48 | 11,171.42 | 12,112.15 | 11,202.67 | 12,980.21 | 14,109.15 | 15,336.28 | 16,670.13 | 18,119.99 | 19,695.95 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 372.47 | 358.79 | 526.55 | 1,115.98 | 582.39 | 732.04 | 795.71 | 864.92 | 940.14 | 1,021.91 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -244.65 | -308.04 | -262.27 | -260.57 | -386.72 | -361.55 | -392.99 | -427.17 | -464.32 | -504.71 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 127.82 | 50.75 | 264.28 | 855.40 | 195.67 | 370.50 | 402.72 | 437.75 | 475.82 | 517.20 |
Weighted Average Cost Of Capital
| Share price | $ 152.46 |
|---|---|
| Beta | 1.128 |
| Diluted Shares Outstanding | 144.30 |
| Cost of Debt | |
| Tax Rate | 21.99 |
| After-tax Cost of Debt | 1.34% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.942 |
| Total Debt | 4,002.32 |
| Total Equity | 22,000.59 |
| Total Capital | 26,002.91 |
| Debt Weighting | 15.39 |
| Equity Weighting | 84.61 |
| 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 | 9,466.48 | 11,171.42 | 12,112.15 | 11,202.67 | 12,980.21 | 14,109.15 | 15,336.28 | 16,670.13 | 18,119.99 | 19,695.95 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 372.47 | 358.79 | 526.55 | 1,115.98 | 582.39 | 732.04 | 795.71 | 864.92 | 940.14 | 1,021.91 |
| Capital Expenditure | -244.65 | -308.04 | -262.27 | -260.57 | -386.72 | -361.55 | -392.99 | -427.17 | -464.32 | -504.71 |
| Free Cash Flow | 127.82 | 50.75 | 264.28 | 855.40 | 195.67 | 370.50 | 402.72 | 437.75 | 475.82 | 517.20 |
| WACC | ||||||||||
| PV LFCF | 236.48 | 238.52 | 240.57 | 242.64 | 244.73 | |||||
| SUM PV LFCF | 1,748.76 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.77 |
| Free cash flow (t + 1) | 527.55 |
| Terminal Value | 9,142.90 |
| Present Value of Terminal Value | 6,289.19 |
Intrinsic Value
| Enterprise Value | 8,037.95 |
|---|---|
| Net Debt | 3,773.22 |
| Equity Value | 4,264.73 |
| Shares Outstanding | 144.30 |
| Equity Value Per Share | 29.55 |