Discounted Cash Flow (DCF) Analysis Levered
Tesla, Inc. (TSLA)
$246.99
+2.11 (+0.86%)
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 | 21,461.27 | 24,578 | 31,536 | 53,823 | 81,462 | 115,035.69 | 162,446.43 | 229,396.99 | 323,940.50 | 457,449.12 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 2,097.80 | 2,405 | 5,943 | 11,497 | 14,724 | 17,908.89 | 25,289.85 | 35,712.79 | 50,431.43 | 71,216.21 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -2,319.52 | -1,437 | -3,242 | -8,014 | -7,172 | -11,648.19 | -16,448.86 | -23,228.08 | -32,801.29 | -46,319.99 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -221.71 | 968 | 2,701 | 3,483 | 7,552 | 6,260.70 | 8,840.98 | 12,484.70 | 17,630.14 | 24,896.21 |
Weighted Average Cost Of Capital
Share price | $ 246.99 |
---|---|
Beta | 2.089 |
Diluted Shares Outstanding | 3,475 |
Cost of Debt | |
Tax Rate | 8.28 |
After-tax Cost of Debt | 5.65% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 14.403 |
Total Debt | 3,099 |
Total Equity | 858,290.25 |
Total Capital | 861,389.25 |
Debt Weighting | 0.36 |
Equity Weighting | 99.64 |
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 | 21,461.27 | 24,578 | 31,536 | 53,823 | 81,462 | 115,035.69 | 162,446.43 | 229,396.99 | 323,940.50 | 457,449.12 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 2,097.80 | 2,405 | 5,943 | 11,497 | 14,724 | 17,908.89 | 25,289.85 | 35,712.79 | 50,431.43 | 71,216.21 |
Capital Expenditure | -2,319.52 | -1,437 | -3,242 | -8,014 | -7,172 | -11,648.19 | -16,448.86 | -23,228.08 | -32,801.29 | -46,319.99 |
Free Cash Flow | -221.71 | 968 | 2,701 | 3,483 | 7,552 | 6,260.70 | 8,840.98 | 12,484.70 | 17,630.14 | 24,896.21 |
WACC | ||||||||||
PV LFCF | 5,474.08 | 6,758.91 | 8,345.30 | 10,304.03 | 12,722.51 | |||||
SUM PV LFCF | 43,604.82 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 14.37 |
Free cash flow (t + 1) | 25,394.14 |
Terminal Value | 205,288.08 |
Present Value of Terminal Value | 104,906.68 |
Intrinsic Value
Enterprise Value | 148,511.49 |
---|---|
Net Debt | -19,086 |
Equity Value | 167,597.49 |
Shares Outstanding | 3,475 |
Equity Value Per Share | 48.23 |