Discounted Cash Flow (DCF) Analysis Levered

V.F. Corporation (VFC)

$19.11

-0.20 (-1.04%)
All numbers are in Millions, Currency in USD
Stock DCF: 9.64 | 19.11 | overvalue

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 10,488.569,238.8311,841.8411,612.4712,166.8812,747.7513,356.3613,994.0214,662.12
Revenue (%)
Operating Cash Flow 874.531,313.23864.29-655.80736.20771.35808.17846.76887.18
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 540.691,039.03535.97-821.72421.32441.43462.50484.59507.72

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 10,488.569,238.8311,841.8411,612.4712,166.8812,747.7513,356.3613,994.0214,662.12
Operating Cash Flow 874.531,313.23864.29-655.80736.20771.35808.17846.76887.18
Capital Expenditure -333.84-274.20-328.32-165.92-314.88-329.92-345.67-362.17-379.46
Free Cash Flow 540.691,039.03535.97-821.72421.32441.43462.50484.59507.72
WACC
PV LFCF 329.72324.93320.20315.55310.96
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