Discounted Cash Flow (DCF) Analysis Levered
Sempra (SRE)
$155.9
-5.23 (-3.25%)
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 | 11,207 | 11,687 | 10,829 | 11,370 | 12,857 | 13,339.64 | 13,840.40 | 14,359.96 | 14,899.02 | 15,458.31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 3,625 | 3,447 | 3,088 | 2,591 | 3,842 | 3,815.85 | 3,959.10 | 4,107.72 | 4,261.92 | 4,421.91 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -3,949 | -3,784 | -3,708 | -4,676 | -5,015 | -4,855.31 | -5,037.57 | -5,226.68 | -5,422.88 | -5,626.45 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -324 | -337 | -620 | -2,085 | -1,173 | -1,039.45 | -1,078.48 | -1,118.96 | -1,160.97 | -1,204.55 |
Weighted Average Cost Of Capital
| Share price | $ 155.9 |
|---|---|
| Beta | 0.712 |
| Diluted Shares Outstanding | 313.04 |
| Cost of Debt | |
| Tax Rate | -501.83 |
| After-tax Cost of Debt | 4.86% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.894 |
| Total Debt | 24,645 |
| Total Equity | 48,802.31 |
| Total Capital | 73,447.31 |
| Debt Weighting | 33.55 |
| Equity Weighting | 66.45 |
| 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 | 11,207 | 11,687 | 10,829 | 11,370 | 12,857 | 13,339.64 | 13,840.40 | 14,359.96 | 14,899.02 | 15,458.31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 3,625 | 3,447 | 3,088 | 2,591 | 3,842 | 3,815.85 | 3,959.10 | 4,107.72 | 4,261.92 | 4,421.91 |
| Capital Expenditure | -3,949 | -3,784 | -3,708 | -4,676 | -5,015 | -4,855.31 | -5,037.57 | -5,226.68 | -5,422.88 | -5,626.45 |
| Free Cash Flow | -324 | -337 | -620 | -2,085 | -1,173 | -1,039.45 | -1,078.48 | -1,118.96 | -1,160.97 | -1,204.55 |
| WACC | ||||||||||
| PV LFCF | -978.68 | -956.05 | -933.94 | -912.34 | -891.24 | |||||
| SUM PV LFCF | -4,672.25 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.21 |
| Free cash flow (t + 1) | -1,228.64 |
| Terminal Value | -29,183.79 |
| Present Value of Terminal Value | -21,593.09 |
Intrinsic Value
| Enterprise Value | -26,265.34 |
|---|---|
| Net Debt | 24,086 |
| Equity Value | -50,351.34 |
| Shares Outstanding | 313.04 |
| Equity Value Per Share | -160.85 |