Discounted Cash Flow (DCF) Analysis Levered
Range Resources Corporation (RRC)
$23.405
-0.59 (-2.48%)
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 | 2,397.68 | 3,333.84 | 2,600.93 | 1,780.99 | 3,580.44 | 4,355.36 | 5,297.99 | 6,444.64 | 7,839.45 | 9,536.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 816.25 | 990.69 | 681.84 | 268.68 | 792.95 | 1,108.07 | 1,347.89 | 1,639.61 | 1,994.48 | 2,426.14 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1,206.83 | -1,021.52 | -747.26 | -432.43 | -417.44 | -1,268.66 | -1,543.24 | -1,877.25 | -2,283.54 | -2,777.77 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -390.57 | -30.83 | -65.42 | -163.75 | 375.51 | -160.59 | -195.35 | -237.63 | -289.06 | -351.62 |
Weighted Average Cost Of Capital
| Share price | $ 23.405 |
|---|---|
| Beta | 2.203 |
| Diluted Shares Outstanding | 241.37 |
| Cost of Debt | |
| Tax Rate | -2.42 |
| After-tax Cost of Debt | 7.70% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.012 |
| Total Debt | 2,950.65 |
| Total Equity | 5,649.34 |
| Total Capital | 8,599.98 |
| Debt Weighting | 34.31 |
| Equity Weighting | 65.69 |
| 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 | 2,397.68 | 3,333.84 | 2,600.93 | 1,780.99 | 3,580.44 | 4,355.36 | 5,297.99 | 6,444.64 | 7,839.45 | 9,536.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 816.25 | 990.69 | 681.84 | 268.68 | 792.95 | 1,108.07 | 1,347.89 | 1,639.61 | 1,994.48 | 2,426.14 |
| Capital Expenditure | -1,206.83 | -1,021.52 | -747.26 | -432.43 | -417.44 | -1,268.66 | -1,543.24 | -1,877.25 | -2,283.54 | -2,777.77 |
| Free Cash Flow | -390.57 | -30.83 | -65.42 | -163.75 | 375.51 | -160.59 | -195.35 | -237.63 | -289.06 | -351.62 |
| WACC | ||||||||||
| PV LFCF | -82.02 | -89.20 | -97.01 | -105.50 | -114.74 | |||||
| SUM PV LFCF | -855.10 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.85 |
| Free cash flow (t + 1) | -358.66 |
| Terminal Value | -3,641.17 |
| Present Value of Terminal Value | -2,079.99 |
Intrinsic Value
| Enterprise Value | -2,935.09 |
|---|---|
| Net Debt | 2,736.23 |
| Equity Value | -5,671.32 |
| Shares Outstanding | 241.37 |
| Equity Value Per Share | -23.50 |