Discounted Cash Flow (DCF) Analysis Levered

RB Global, Inc. (RBA.TO)

$91.59

-1.39 (-1.50%)
All numbers are in Millions, Currency in USD
Stock DCF: 81.70 | 91.59 | overvalue

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 1,170.031,318.641,377.261,416.971,733.811,917.552,120.772,345.522,594.092,869
Revenue (%)
Operating Cash Flow 144.28332.79257.87317.59463.06404.27447.11494.50546.90604.86
Operating Cash Flow (%)
Capital Expenditure -43.01-41-43.14-43.49-71.94-65.72-72.68-80.38-88.90-98.33
Capital Expenditure (%)
Free Cash Flow 101.27291.79214.74274.10391.12338.55374.43414.11458506.53

Weighted Average Cost Of Capital

Share price $ 91.59
Beta 0.835
Diluted Shares Outstanding 111.89
Cost of Debt
Tax Rate 21.26
After-tax Cost of Debt 7.46%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.192
Total Debt 610.62
Total Equity 10,247.64
Total Capital 10,858.26
Debt Weighting 5.62
Equity Weighting 94.38
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 1,170.031,318.641,377.261,416.971,733.811,917.552,120.772,345.522,594.092,869
Operating Cash Flow 144.28332.79257.87317.59463.06404.27447.11494.50546.90604.86
Capital Expenditure -43.01-41-43.14-43.49-71.94-65.72-72.68-80.38-88.90-98.33
Free Cash Flow 101.27291.79214.74274.10391.12338.55374.43414.11458506.53
WACC
PV LFCF 313.04320.12327.37334.78342.35
SUM PV LFCF 1,637.66

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.15
Free cash flow (t + 1) 524.26
Terminal Value 11,274.48
Present Value of Terminal Value 7,620.16

Intrinsic Value

Enterprise Value 9,257.82
Net Debt 116.29
Equity Value 9,141.53
Shares Outstanding 111.89
Equity Value Per Share 81.70