Discounted Cash Flow (DCF) Analysis Levered

Whiting Petroleum Corporation (WLL)

$76.2

-1.16 (-1.50%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.17 | 76.2 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,481.432,081.411,572.241,698.321,834.501,981.602,140.502,312.132,497.532,697.80
Revenue (%)
Operating Cash Flow 577.111,092755.9682.17740.24731.97790.66854.06922.55996.52
Operating Cash Flow (%)
Capital Expenditure -856.58-957.80-805.85-2.49-540.92-732.10-790.80-854.22-922.71-996.70
Capital Expenditure (%)
Free Cash Flow -279.47134.20-49.8979.68199.32-0.13-0.14-0.15-0.17-0.18

Weighted Average Cost Of Capital

Share price $ 76.2
Beta 4.407
Diluted Shares Outstanding 38.12
Cost of Debt
Tax Rate 0.21
After-tax Cost of Debt 27.16%
Risk-Free Rate
Market Risk Premium
Cost of Equity 23.782
Total Debt 47.12
Total Equity 2,904.67
Total Capital 2,951.79
Debt Weighting 1.60
Equity Weighting 98.40
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,481.432,081.411,572.241,698.321,834.501,981.602,140.502,312.132,497.532,697.80
Operating Cash Flow 577.111,092755.9682.17740.24731.97790.66854.06922.55996.52
Capital Expenditure -856.58-957.80-805.85-2.49-540.92-732.10-790.80-854.22-922.71-996.70
Free Cash Flow -279.47134.20-49.8979.68199.32-0.13-0.14-0.15-0.17-0.18
WACC
PV LFCF 98.68199.32-0.11-0.09-0.08-0.07-0.06
SUM PV LFCF -0.41

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 23.84
Free cash flow (t + 1) -0.18
Terminal Value -0.83
Present Value of Terminal Value -0.29

Intrinsic Value

Enterprise Value -0.70
Net Debt 5.87
Equity Value -6.57
Shares Outstanding 38.12
Equity Value Per Share -0.17