Discounted Cash Flow (DCF) Analysis Levered
V.F. Corporation (VFC)
$19.11
-0.20 (-1.04%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 10,488.56 | 9,238.83 | 11,841.84 | 11,612.47 | 12,166.88 | 12,747.75 | 13,356.36 | 13,994.02 | 14,662.12 |
---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||
Operating Cash Flow | 874.53 | 1,313.23 | 864.29 | -655.80 | 736.20 | 771.35 | 808.17 | 846.76 | 887.18 |
Operating Cash Flow (%) | |||||||||
Capital Expenditure | -333.84 | -274.20 | -328.32 | -165.92 | -314.88 | -329.92 | -345.67 | -362.17 | -379.46 |
Capital Expenditure (%) | |||||||||
Free Cash Flow | 540.69 | 1,039.03 | 535.97 | -821.72 | 421.32 | 441.43 | 462.50 | 484.59 | 507.72 |
Weighted Average Cost Of Capital
Share price | $ 19.11 |
---|---|
Beta | 1.484 |
Diluted Shares Outstanding | 388.37 |
Cost of Debt | |
Tax Rate | -173.95 |
After-tax Cost of Debt | 2.11% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.750 |
Total Debt | 7,818.75 |
Total Equity | 7,421.75 |
Total Capital | 15,240.50 |
Debt Weighting | 51.30 |
Equity Weighting | 48.70 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 10,488.56 | 9,238.83 | 11,841.84 | 11,612.47 | 12,166.88 | 12,747.75 | 13,356.36 | 13,994.02 | 14,662.12 |
---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 874.53 | 1,313.23 | 864.29 | -655.80 | 736.20 | 771.35 | 808.17 | 846.76 | 887.18 |
Capital Expenditure | -333.84 | -274.20 | -328.32 | -165.92 | -314.88 | -329.92 | -345.67 | -362.17 | -379.46 |
Free Cash Flow | 540.69 | 1,039.03 | 535.97 | -821.72 | 421.32 | 441.43 | 462.50 | 484.59 | 507.72 |
WACC | |||||||||
PV LFCF | 329.72 | 324.93 | 320.20 | 315.55 | 310.96 | ||||
SUM PV LFCF | 1,924.57 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.32 |
Free cash flow (t + 1) | 517.87 |
Terminal Value | 11,987.84 |
Present Value of Terminal Value | 8,824.01 |
Intrinsic Value
Enterprise Value | 10,748.58 |
---|---|
Net Debt | 7,003.86 |
Equity Value | 3,744.72 |
Shares Outstanding | 388.37 |
Equity Value Per Share | 9.64 |