Discounted Cash Flow (DCF) Analysis Levered

ResMed Inc. (RMD)

$239.99

-0.86 (-0.36%)
All numbers are in Millions, Currency in USD
Stock DCF: 197.02 | 239.99 | 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 2,340.202,606.572,957.013,196.823,578.133,979.464,425.804,922.205,474.286,088.29
Revenue (%)
Operating Cash Flow 505.03459.05802.26736.72351.15789.38877.91976.381,085.891,207.69
Operating Cash Flow (%)
Capital Expenditure -71.46-77.34-105.94-116.83-134.83-135.51-150.71-167.61-186.41-207.32
Capital Expenditure (%)
Free Cash Flow 433.57381.71696.32619.89216.31653.87727.21808.77899.481,000.37

Weighted Average Cost Of Capital

Share price $ 239.99
Beta 0.470
Diluted Shares Outstanding 147.04
Cost of Debt
Tax Rate 18.85
After-tax Cost of Debt 1,973.33%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.066
Total Debt 0.92
Total Equity 35,288.85
Total Capital 35,289.77
Debt Weighting 0.00
Equity Weighting 100.00
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 2,340.202,606.572,957.013,196.823,578.133,979.464,425.804,922.205,474.286,088.29
Operating Cash Flow 505.03459.05802.26736.72351.15789.38877.91976.381,085.891,207.69
Capital Expenditure -71.46-77.34-105.94-116.83-134.83-135.51-150.71-167.61-186.41-207.32
Free Cash Flow 433.57381.71696.32619.89216.31653.87727.21808.77899.481,000.37
WACC
PV LFCF 622.02658.09696.26736.63779.35
SUM PV LFCF 3,492.36

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.12
Free cash flow (t + 1) 1,020.38
Terminal Value 32,704.44
Present Value of Terminal Value 25,478.86

Intrinsic Value

Enterprise Value 28,971.21
Net Debt 0.64
Equity Value 28,970.57
Shares Outstanding 147.04
Equity Value Per Share 197.02