Discounted Cash Flow (DCF) Analysis Levered
TD SYNNEX Corporation (SNX)
$90.07
-2.15 (-2.33%)
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 | 20,053.76 | 23,757.29 | 24,675.56 | 31,614.17 | 62,343.81 | 85,357.20 | 116,865.67 | 160,005.07 | 219,068.81 | 299,935.14 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 100.71 | 549.92 | 1,834.37 | 809.79 | -49.60 | 2,173.67 | 2,976.04 | 4,074.61 | 5,578.70 | 7,638 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -125.30 | -137.42 | -197.96 | -54.89 | -117.05 | -404.07 | -553.23 | -757.44 | -1,037.05 | -1,419.86 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -24.60 | 412.50 | 1,636.40 | 754.90 | -166.65 | 1,769.59 | 2,422.82 | 3,317.17 | 4,541.66 | 6,218.15 |
Weighted Average Cost Of Capital
| Share price | $ 90.07 |
|---|---|
| Beta | 1.545 |
| Diluted Shares Outstanding | 95.51 |
| Cost of Debt | |
| Tax Rate | 21.26 |
| After-tax Cost of Debt | 4.27% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.984 |
| Total Debt | 4,103.79 |
| Total Equity | 8,602.50 |
| Total Capital | 12,706.29 |
| Debt Weighting | 32.30 |
| Equity Weighting | 67.70 |
| 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 | 20,053.76 | 23,757.29 | 24,675.56 | 31,614.17 | 62,343.81 | 85,357.20 | 116,865.67 | 160,005.07 | 219,068.81 | 299,935.14 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 100.71 | 549.92 | 1,834.37 | 809.79 | -49.60 | 2,173.67 | 2,976.04 | 4,074.61 | 5,578.70 | 7,638 |
| Capital Expenditure | -125.30 | -137.42 | -197.96 | -54.89 | -117.05 | -404.07 | -553.23 | -757.44 | -1,037.05 | -1,419.86 |
| Free Cash Flow | -24.60 | 412.50 | 1,636.40 | 754.90 | -166.65 | 1,769.59 | 2,422.82 | 3,317.17 | 4,541.66 | 6,218.15 |
| WACC | ||||||||||
| PV LFCF | 1,626.32 | 2,046.36 | 2,574.90 | 3,239.95 | 4,076.78 | |||||
| SUM PV LFCF | 13,564.32 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.81 |
| Free cash flow (t + 1) | 6,342.51 |
| Terminal Value | 93,135.25 |
| Present Value of Terminal Value | 61,061.86 |
Intrinsic Value
| Enterprise Value | 74,626.17 |
|---|---|
| Net Debt | 3,581.19 |
| Equity Value | 71,044.99 |
| Shares Outstanding | 95.51 |
| Equity Value Per Share | 743.86 |