Discounted Cash Flow (DCF) Analysis Levered
Wipro Limited (WIT)
$4.95
+0.07 (+1.43%)
All numbers are in Millions, Currency in USD
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 | 585,845 | 610,232 | 619,430 | 790,934 | 904,876 | 1,012,925.88 | 1,133,877.83 | 1,269,272.47 | 1,420,834.38 | 1,590,494.06 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 116,316 | 100,643 | 147,550 | 110,797 | 130,601 | 179,508.02 | 200,942.80 | 224,937.08 | 251,796.47 | 281,863.11 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -22,781 | -23,497 | -19,577 | -20,153 | -14,834 | -30,563.82 | -34,213.40 | -38,298.77 | -42,871.97 | -47,991.25 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 93,535 | 77,146 | 127,973 | 90,644 | 115,766.99 | 148,944.20 | 166,729.40 | 186,638.30 | 208,924.50 | 233,871.86 |
Weighted Average Cost Of Capital
| Share price | $ 4.95 |
|---|---|
| Beta | 0.650 |
| Diluted Shares Outstanding | 5,488.99 |
| Cost of Debt | |
| Tax Rate | 23.13 |
| After-tax Cost of Debt | 4.44% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.695 |
| Total Debt | 174,666 |
| Total Equity | 27,170.51 |
| Total Capital | 201,836.51 |
| Debt Weighting | 86.54 |
| Equity Weighting | 13.46 |
| 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 | 585,845 | 610,232 | 619,430 | 790,934 | 904,876 | 1,012,925.88 | 1,133,877.83 | 1,269,272.47 | 1,420,834.38 | 1,590,494.06 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 116,316 | 100,643 | 147,550 | 110,797 | 130,601 | 179,508.02 | 200,942.80 | 224,937.08 | 251,796.47 | 281,863.11 |
| Capital Expenditure | -22,781 | -23,497 | -19,577 | -20,153 | -14,834 | -30,563.82 | -34,213.40 | -38,298.77 | -42,871.97 | -47,991.25 |
| Free Cash Flow | 93,535 | 77,146 | 127,973 | 90,644 | 115,766.99 | 148,944.20 | 166,729.40 | 186,638.30 | 208,924.50 | 233,871.86 |
| WACC | ||||||||||
| PV LFCF | 142,027.46 | 151,603.65 | 161,825.51 | 172,736.57 | 184,383.32 | |||||
| SUM PV LFCF | 812,576.51 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.87 |
| Free cash flow (t + 1) | 238,549.30 |
| Terminal Value | 8,311,822.26 |
| Present Value of Terminal Value | 6,552,996.07 |
Intrinsic Value
| Enterprise Value | 7,365,572.58 |
|---|---|
| Net Debt | 82,786 |
| Equity Value | 7,282,786.58 |
| Shares Outstanding | 5,488.99 |
| Equity Value Per Share | 1,326.80 |