Discounted Cash Flow (DCF) Analysis Levered

Science Applications International ... (SAIC)

$139.26

+1.39 (+1.01%)
All numbers are in Millions, Currency in USD
Stock DCF: 296.82 | 139.26 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 4,6596,3797,0567,3947,7048,792.4510,034.6811,452.4213,070.4714,917.11
Revenue (%)
Operating Cash Flow 184458755518532628.49717.29818.63934.291,066.29
Operating Cash Flow (%)
Capital Expenditure -28-21-46-36-25-42.09-48.04-54.82-62.57-71.41
Capital Expenditure (%)
Free Cash Flow 156437709482507586.40669.25763.81871.72994.88

Weighted Average Cost Of Capital

Share price $ 139.26
Beta 0.698
Diluted Shares Outstanding 55.80
Cost of Debt
Tax Rate 20.00
After-tax Cost of Debt 3.80%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.580
Total Debt 2,526
Total Equity 7,770.71
Total Capital 10,296.71
Debt Weighting 24.53
Equity Weighting 75.47
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 4,6596,3797,0567,3947,7048,792.4510,034.6811,452.4213,070.4714,917.11
Operating Cash Flow 184458755518532628.49717.29818.63934.291,066.29
Capital Expenditure -28-21-46-36-25-42.09-48.04-54.82-62.57-71.41
Free Cash Flow 156437709482507586.40669.25763.81871.72994.88
WACC
PV LFCF 549.84588.39629.65673.80721.05
SUM PV LFCF 3,162.74

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.65
Free cash flow (t + 1) 1,014.78
Terminal Value 21,823.18
Present Value of Terminal Value 15,816.62

Intrinsic Value

Enterprise Value 18,979.36
Net Debt 2,417
Equity Value 16,562.36
Shares Outstanding 55.80
Equity Value Per Share 296.82