Discounted Cash Flow (DCF) Analysis Levered

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

$29.2

+0.35 (+1.21%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,255,654.90 | 29.2 | undervalue

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 128,256,000130,788,000.45135,557,000.48136,446,999.97143,209,999.61147,231,904.94151,366,761.35155,617,740.93159,988,104.90164,481,206.04
Revenue (%)
Operating Cash Flow 49,404,999.9750,380,342.1252,217,390.2652,560,223.5455,165,372.5956,714,635.2658,307,407.3859,944,910.8661,628,401.9363,359,172.12
Operating Cash Flow (%)
Capital Expenditure -33,291,999.90-34,834,000.18-37,309,999.85-31,940,999.66-32,557,000.42-37,178,327.79-38,222,442.83-39,295,880.77-40,399,465.10-41,534,042.47
Capital Expenditure (%)
Free Cash Flow 16,113,000.0815,546,341.9414,907,390.4120,619,223.8822,608,372.1719,536,307.4720,084,964.5520,649,030.0921,228,936.8321,825,129.66

Weighted Average Cost Of Capital

Share price $ 29.2
Beta 0.213
Diluted Shares Outstanding 990.62
Cost of Debt
Tax Rate 43.31
After-tax Cost of Debt 3.58%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.657
Total Debt 69,078,000
Total Equity 28,926.17
Total Capital 69,106,926.17
Debt Weighting 99.96
Equity Weighting 0.04
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 128,256,000130,788,000.45135,557,000.48136,446,999.97143,209,999.61147,231,904.94151,366,761.35155,617,740.93159,988,104.90164,481,206.04
Operating Cash Flow 49,404,999.9750,380,342.1252,217,390.2652,560,223.5455,165,372.5956,714,635.2658,307,407.3859,944,910.8661,628,401.9363,359,172.12
Capital Expenditure -33,291,999.90-34,834,000.18-37,309,999.85-31,940,999.66-32,557,000.42-37,178,327.79-38,222,442.83-39,295,880.77-40,399,465.10-41,534,042.47
Free Cash Flow 16,113,000.0815,546,341.9414,907,390.4120,619,223.8822,608,372.1719,536,307.4720,084,964.5520,649,030.0921,228,936.8321,825,129.66
WACC
PV LFCF 18,861,080.7818,720,578.1118,581,122.1018,442,704.9318,305,318.89
SUM PV LFCF 92,910,804.81

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.58
Free cash flow (t + 1) 22,261,632.25
Terminal Value 1,408,964,066.37
Present Value of Terminal Value 1,181,735,776.46

Intrinsic Value

Enterprise Value 1,274,646,581.27
Net Debt 30,767,000
Equity Value 1,243,879,581.27
Shares Outstanding 990.62
Equity Value Per Share 1,255,654.90