Discounted Cash Flow (DCF) Analysis Levered
Sabre Corporation (SABR)
$7.335
-0.11 (-1.41%)
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 | 3,598.48 | 3,866.96 | 3,974.99 | 1,334.10 | 1,688.87 | 1,563.94 | 1,448.24 | 1,341.11 | 1,241.90 | 1,150.03 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 673.18 | 722.90 | 578.88 | -773.18 | -418.15 | -96.18 | -89.07 | -82.48 | -76.38 | -70.73 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -316.44 | -283.94 | -115.17 | -65.42 | -54.30 | -84.93 | -78.65 | -72.83 | -67.44 | -62.45 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 356.75 | 438.96 | 463.71 | -838.60 | -472.45 | -181.11 | -167.71 | -155.31 | -143.82 | -133.18 |
Weighted Average Cost Of Capital
| Share price | $ 7.335 |
|---|---|
| Beta | 1.763 |
| Diluted Shares Outstanding | 289.86 |
| Cost of Debt | |
| Tax Rate | 1.06 |
| After-tax Cost of Debt | 5.28% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.961 |
| Total Debt | 4,832.34 |
| Total Equity | 2,126.09 |
| Total Capital | 6,958.43 |
| Debt Weighting | 69.45 |
| Equity Weighting | 30.55 |
| 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 | 3,598.48 | 3,866.96 | 3,974.99 | 1,334.10 | 1,688.87 | 1,563.94 | 1,448.24 | 1,341.11 | 1,241.90 | 1,150.03 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 673.18 | 722.90 | 578.88 | -773.18 | -418.15 | -96.18 | -89.07 | -82.48 | -76.38 | -70.73 |
| Capital Expenditure | -316.44 | -283.94 | -115.17 | -65.42 | -54.30 | -84.93 | -78.65 | -72.83 | -67.44 | -62.45 |
| Free Cash Flow | 356.75 | 438.96 | 463.71 | -838.60 | -472.45 | -181.11 | -167.71 | -155.31 | -143.82 | -133.18 |
| WACC | ||||||||||
| PV LFCF | -168.76 | -145.61 | -125.64 | -108.41 | -93.55 | |||||
| SUM PV LFCF | -641.98 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.32 |
| Free cash flow (t + 1) | -135.84 |
| Terminal Value | -2,553.41 |
| Present Value of Terminal Value | -1,793.56 |
Intrinsic Value
| Enterprise Value | -2,435.54 |
|---|---|
| Net Debt | 3,853.99 |
| Equity Value | -6,289.53 |
| Shares Outstanding | 289.86 |
| Equity Value Per Share | -21.70 |