Discounted Cash Flow (DCF) Analysis Levered
Aqua America, Inc. (WTRU)
$53.31
-1.82 (-3.30%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 809.52 | 838.09 | 889.69 | 1,462.70 | 1,878.14 | 2,359.39 | 2,963.94 | 3,723.40 | 4,677.46 | 5,875.99 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 381.32 | 368.52 | 338.52 | 508.02 | 644.68 | 935.18 | 1,174.80 | 1,475.82 | 1,853.98 | 2,329.03 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -478.09 | -495.74 | -550.27 | -835.64 | -1,020.52 | -1,375.64 | -1,728.13 | -2,170.93 | -2,727.20 | -3,426 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -96.77 | -127.22 | -211.75 | -327.62 | -375.84 | -440.46 | -553.33 | -695.11 | -873.22 | -1,096.96 |
Weighted Average Cost Of Capital
Share price | $ 53.31 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 156.52 |
Cost of Debt | |
Tax Rate | -2.28 |
After-tax Cost of Debt | 4.32% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.324 |
Total Debt | 5,976.65 |
Total Equity | 8,344.35 |
Total Capital | 14,321 |
Debt Weighting | 41.73 |
Equity Weighting | 58.27 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 809.52 | 838.09 | 889.69 | 1,462.70 | 1,878.14 | 2,359.39 | 2,963.94 | 3,723.40 | 4,677.46 | 5,875.99 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 381.32 | 368.52 | 338.52 | 508.02 | 644.68 | 935.18 | 1,174.80 | 1,475.82 | 1,853.98 | 2,329.03 |
Capital Expenditure | -478.09 | -495.74 | -550.27 | -835.64 | -1,020.52 | -1,375.64 | -1,728.13 | -2,170.93 | -2,727.20 | -3,426 |
Free Cash Flow | -96.77 | -127.22 | -211.75 | -327.62 | -375.84 | -440.46 | -553.33 | -695.11 | -873.22 | -1,096.96 |
WACC | ||||||||||
PV LFCF | -422.22 | -508.45 | -612.28 | -737.31 | -887.88 | |||||
SUM PV LFCF | -3,168.14 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.32 |
Free cash flow (t + 1) | -1,118.90 |
Terminal Value | -48,228.61 |
Present Value of Terminal Value | -39,036.14 |
Intrinsic Value
Enterprise Value | -42,204.28 |
---|---|
Net Debt | 5,976.65 |
Equity Value | -48,180.93 |
Shares Outstanding | 156.52 |
Equity Value Per Share | -307.82 |