Discounted Cash Flow (DCF) Analysis Levered
Santander Consumer USA Holdings Inc... (SC)
$41.6
+0.01 (+0.02%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 5,815.66 | 5,717.39 | 6,060.42 | 6,573.42 | 6,743.72 | 7,002.78 | 7,271.78 | 7,551.12 | 7,841.19 | 8,142.40 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 4,473.12 | 3,766.60 | 6,244.87 | 5,533.23 | 4,012.49 | 5,455.36 | 5,664.92 | 5,882.53 | 6,108.50 | 6,343.15 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -5,619.93 | -6,024.33 | -9,829.75 | -8,589.78 | -6,884.13 | -8,360.69 | -8,681.86 | -9,015.36 | -9,361.68 | -9,721.30 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1,146.81 | -2,257.73 | -3,584.88 | -3,056.55 | -2,871.64 | -2,905.33 | -3,016.94 | -3,132.83 | -3,253.18 | -3,378.14 |
Weighted Average Cost Of Capital
| Share price | $ 41.6 |
|---|---|
| Beta | 1.014 |
| Diluted Shares Outstanding | 317.69 |
| Cost of Debt | |
| Tax Rate | 24.71 |
| After-tax Cost of Debt | 2.21% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.268 |
| Total Debt | 41,138.67 |
| Total Equity | 13,215.87 |
| Total Capital | 54,354.54 |
| Debt Weighting | 75.69 |
| Equity Weighting | 24.31 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 5,815.66 | 5,717.39 | 6,060.42 | 6,573.42 | 6,743.72 | 7,002.78 | 7,271.78 | 7,551.12 | 7,841.19 | 8,142.40 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 4,473.12 | 3,766.60 | 6,244.87 | 5,533.23 | 4,012.49 | 5,455.36 | 5,664.92 | 5,882.53 | 6,108.50 | 6,343.15 |
| Capital Expenditure | -5,619.93 | -6,024.33 | -9,829.75 | -8,589.78 | -6,884.13 | -8,360.69 | -8,681.86 | -9,015.36 | -9,361.68 | -9,721.30 |
| Free Cash Flow | -1,146.81 | -2,257.73 | -3,584.88 | -3,056.55 | -2,871.64 | -2,905.33 | -3,016.94 | -3,132.83 | -3,253.18 | -3,378.14 |
| WACC | ||||||||||
| PV LFCF | -2,802.21 | -2,806.57 | -2,810.94 | -2,815.32 | -2,819.70 | |||||
| SUM PV LFCF | -14,054.75 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.68 |
| Free cash flow (t + 1) | -3,445.71 |
| Terminal Value | -205,101.59 |
| Present Value of Terminal Value | -171,196.18 |
Intrinsic Value
| Enterprise Value | -185,250.94 |
|---|---|
| Net Debt | 41,029.62 |
| Equity Value | -226,280.56 |
| Shares Outstanding | 317.69 |
| Equity Value Per Share | -712.27 |