Discounted Cash Flow (DCF) Analysis Levered
V.F. Corporation (VFC)
$45.49
-0.98 (-2.11%)
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 | 11,811.18 | 3,045.45 | 10,266.89 | 10,488.56 | 9,238.83 | 12,776.17 | 17,667.88 | 24,432.51 | 33,787.16 | 46,723.51 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,474.66 | -243.22 | 1,664.22 | 874.53 | 1,313.23 | 1,105.41 | 1,528.64 | 2,113.93 | 2,923.30 | 4,042.57 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -234.73 | -73.66 | -306.84 | -333.84 | -274.20 | -346.12 | -478.64 | -661.90 | -915.33 | -1,265.79 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 1,239.93 | -316.89 | 1,357.38 | 540.69 | 1,039.03 | 759.29 | 1,050 | 1,452.02 | 2,007.97 | 2,776.78 |
Weighted Average Cost Of Capital
Share price | $ 45.49 |
---|---|
Beta | 1.461 |
Diluted Shares Outstanding | 392.12 |
Cost of Debt | |
Tax Rate | 10.65 |
After-tax Cost of Debt | 1.64% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.655 |
Total Debt | 7,361.69 |
Total Equity | 17,837.58 |
Total Capital | 25,199.27 |
Debt Weighting | 29.21 |
Equity Weighting | 70.79 |
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 | 11,811.18 | 3,045.45 | 10,266.89 | 10,488.56 | 9,238.83 | 12,776.17 | 17,667.88 | 24,432.51 | 33,787.16 | 46,723.51 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,474.66 | -243.22 | 1,664.22 | 874.53 | 1,313.23 | 1,105.41 | 1,528.64 | 2,113.93 | 2,923.30 | 4,042.57 |
Capital Expenditure | -234.73 | -73.66 | -306.84 | -333.84 | -274.20 | -346.12 | -478.64 | -661.90 | -915.33 | -1,265.79 |
Free Cash Flow | 1,239.93 | -316.89 | 1,357.38 | 540.69 | 1,039.03 | 759.29 | 1,050 | 1,452.02 | 2,007.97 | 2,776.78 |
WACC | ||||||||||
PV LFCF | 707.57 | 911.82 | 1,175.04 | 1,514.25 | 1,951.37 | |||||
SUM PV LFCF | 6,260.05 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.31 |
Free cash flow (t + 1) | 2,832.31 |
Terminal Value | 53,339.26 |
Present Value of Terminal Value | 37,484.01 |
Intrinsic Value
Enterprise Value | 43,744.05 |
---|---|
Net Debt | 6,545.94 |
Equity Value | 37,198.12 |
Shares Outstanding | 392.12 |
Equity Value Per Share | 94.86 |