Discounted Cash Flow (DCF) Analysis Levered

Whirlpool Corporation (WHR)

$106.81

-0.58 (-0.54%)
All numbers are in Millions, Currency in USD
Stock DCF: 179.38 | 106.81 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 20,41919,45621,98519,72419,45519,291.3019,128.9718,968.0218,808.4118,650.15
Revenue (%)
Operating Cash Flow 1,2301,5002,1761,3909151,365.111,353.631,342.241,330.941,319.74
Operating Cash Flow (%)
Capital Expenditure -532-410-525-570-549-494.34-490.18-486.06-481.97-477.91
Capital Expenditure (%)
Free Cash Flow 6981,0901,651820366870.77863.45856.18848.98841.83

Weighted Average Cost Of Capital

Share price $ 106.81
Beta 1.485
Diluted Shares Outstanding 55.20
Cost of Debt
Tax Rate 18.89
After-tax Cost of Debt 3.63%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.168
Total Debt 7,843
Total Equity 5,895.91
Total Capital 13,738.91
Debt Weighting 57.09
Equity Weighting 42.91
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 20,41919,45621,98519,72419,45519,291.3019,128.9718,968.0218,808.4118,650.15
Operating Cash Flow 1,2301,5002,1761,3909151,365.111,353.631,342.241,330.941,319.74
Capital Expenditure -532-410-525-570-549-494.34-490.18-486.06-481.97-477.91
Free Cash Flow 6981,0901,651820366870.77863.45856.18848.98841.83
WACC
PV LFCF 814.80756701.45650.84603.87
SUM PV LFCF 3,526.96

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.87
Free cash flow (t + 1) 858.67
Terminal Value 17,631.83
Present Value of Terminal Value 12,647.89

Intrinsic Value

Enterprise Value 16,174.86
Net Debt 6,273
Equity Value 9,901.86
Shares Outstanding 55.20
Equity Value Per Share 179.38