Discounted Cash Flow (DCF) Analysis Levered

Perusahaan Perseroan (Persero) PT T... (TLK)

$25.04

-0.23 (-0.91%)
All numbers are in Millions, Currency in USD
Stock DCF: 684,510.91 | 25.04 | undervalue

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 130,784,000135,566,999.75136,447,000.39143,210,000.06147,305,999.40151,770,453.88156,370,214.14161,109,380.95165,992,179.35171,022,962.43
Revenue (%)
Operating Cash Flow 17,802,000.2754,949,000.5665,317,000.3468,353,000.2460,935,000.3858,009,651.2859,767,770.0861,579,172.8163,445,474.3565,368,338.55
Operating Cash Flow (%)
Capital Expenditure -34,834,000.59-37,225,999.96-31,940,999.76-32,557,000.53-38,396,999.82-38,338,195.57-39,500,124.68-40,697,268.78-41,930,695.15-43,201,503.41
Capital Expenditure (%)
Free Cash Flow -17,032,000.3217,723,000.5933,376,000.5835,795,999.7122,538,000.5719,671,455.7120,267,645.4020,881,904.0321,514,779.2022,166,835.14

Weighted Average Cost Of Capital

Share price $ 25.04
Beta 0.256
Diluted Shares Outstanding 990.62
Cost of Debt
Tax Rate 23.83
After-tax Cost of Debt 4.87%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.418
Total Debt 63,041,000
Total Equity 24,805.18
Total Capital 63,065,805.18
Debt Weighting 99.96
Equity Weighting 0.04
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 130,784,000135,566,999.75136,447,000.39143,210,000.06147,305,999.40151,770,453.88156,370,214.14161,109,380.95165,992,179.35171,022,962.43
Operating Cash Flow 17,802,000.2754,949,000.5665,317,000.3468,353,000.2460,935,000.3858,009,651.2859,767,770.0861,579,172.8163,445,474.3565,368,338.55
Capital Expenditure -34,834,000.59-37,225,999.96-31,940,999.76-32,557,000.53-38,396,999.82-38,338,195.57-39,500,124.68-40,697,268.78-41,930,695.15-43,201,503.41
Free Cash Flow -17,032,000.3217,723,000.5933,376,000.5835,795,999.7122,538,000.5719,671,455.7120,267,645.4020,881,904.0321,514,779.2022,166,835.14
WACC
PV LFCF 18,756,155.3318,425,443.0718,100,56217,781,409.2917,467,883.95
SUM PV LFCF 90,531,453.65

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.88
Free cash flow (t + 1) 22,610,171.85
Terminal Value 785,075,411.35
Present Value of Terminal Value 618,654,223.28

Intrinsic Value

Enterprise Value 709,185,676.93
Net Debt 31,094,000
Equity Value 678,091,676.93
Shares Outstanding 990.62
Equity Value Per Share 684,510.91