Discounted Cash Flow (DCF) Analysis Levered
Schlumberger Limited (SLB)
$47.65
+0.20 (+0.42%)
All numbers are in Millions, Currency in USD
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 | 32,815 | 32,917 | 23,601 | 22,929 | 28,091 | 27,506.35 | 26,933.88 | 26,373.32 | 25,824.42 | 25,286.95 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 5,713 | 5,431 | 2,944 | 4,651 | 3,720 | 4,396.06 | 4,304.57 | 4,214.98 | 4,127.25 | 4,041.35 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2,260 | -1,955 | -1,217 | -1,180 | -1,715 | -1,608.26 | -1,574.79 | -1,542.01 | -1,509.92 | -1,478.49 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 3,453 | 3,476 | 1,727 | 3,471 | 2,005 | 2,787.80 | 2,729.78 | 2,672.97 | 2,617.33 | 2,562.86 |
Weighted Average Cost Of Capital
| Share price | $ 47.65 |
|---|---|
| Beta | 1.780 |
| Diluted Shares Outstanding | 1,424 |
| Cost of Debt | |
| Tax Rate | 19.43 |
| After-tax Cost of Debt | 3.23% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.157 |
| Total Debt | 12,226 |
| Total Equity | 67,853.60 |
| Total Capital | 80,079.60 |
| Debt Weighting | 15.27 |
| Equity Weighting | 84.73 |
| 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 | 32,815 | 32,917 | 23,601 | 22,929 | 28,091 | 27,506.35 | 26,933.88 | 26,373.32 | 25,824.42 | 25,286.95 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 5,713 | 5,431 | 2,944 | 4,651 | 3,720 | 4,396.06 | 4,304.57 | 4,214.98 | 4,127.25 | 4,041.35 |
| Capital Expenditure | -2,260 | -1,955 | -1,217 | -1,180 | -1,715 | -1,608.26 | -1,574.79 | -1,542.01 | -1,509.92 | -1,478.49 |
| Free Cash Flow | 3,453 | 3,476 | 1,727 | 3,471 | 2,005 | 2,787.80 | 2,729.78 | 2,672.97 | 2,617.33 | 2,562.86 |
| WACC | ||||||||||
| PV LFCF | 2,516.29 | 2,223.96 | 1,965.58 | 1,737.23 | 1,535.40 | |||||
| SUM PV LFCF | 9,978.46 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.79 |
| Free cash flow (t + 1) | 2,614.12 |
| Terminal Value | 29,739.68 |
| Present Value of Terminal Value | 17,816.95 |
Intrinsic Value
| Enterprise Value | 27,795.42 |
|---|---|
| Net Debt | 10,571 |
| Equity Value | 17,224.42 |
| Shares Outstanding | 1,424 |
| Equity Value Per Share | 12.10 |