Discounted Cash Flow (DCF) Analysis Levered

Visteon Corporation (VC)

$113.31

-6.24 (-5.22%)
All numbers are in Millions, Currency in USD
Stock DCF: 17.23 | 113.31 | overvalue

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 3,1462,9842,9452,5482,7732,6962,621.152,548.372,477.612,408.82
Revenue (%)
Operating Cash Flow 21720418316858154.39150.10145.94141.88137.94
Operating Cash Flow (%)
Capital Expenditure -99-127-142-104-70-101.53-98.72-95.97-93.31-90.72
Capital Expenditure (%)
Free Cash Flow 118774164-1252.8551.3949.9648.5747.22

Weighted Average Cost Of Capital

Share price $ 113.31
Beta 1.779
Diluted Shares Outstanding 27.90
Cost of Debt
Tax Rate 49.38
After-tax Cost of Debt 1.02%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.096
Total Debt 498
Total Equity 3,161.35
Total Capital 3,659.35
Debt Weighting 13.61
Equity Weighting 86.39
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 3,1462,9842,9452,5482,7732,6962,621.152,548.372,477.612,408.82
Operating Cash Flow 21720418316858154.39150.10145.94141.88137.94
Capital Expenditure -99-127-142-104-70-101.53-98.72-95.97-93.31-90.72
Free Cash Flow 118774164-1252.8551.3949.9648.5747.22
WACC
PV LFCF 47.7942.0236.9432.4728.55
SUM PV LFCF 187.77

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.59
Free cash flow (t + 1) 48.17
Terminal Value 560.76
Present Value of Terminal Value 339

Intrinsic Value

Enterprise Value 526.77
Net Debt 46
Equity Value 480.77
Shares Outstanding 27.90
Equity Value Per Share 17.23