Discounted Cash Flow (DCF) Analysis Levered
Wynn Resorts Ltd (WYR.DE)
95.73 €
+1.16 (+1.23%)
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 | 6,306.37 | 6,717.66 | 6,611.10 | 2,095.86 | 3,763.66 | 3,916.22 | 4,074.96 | 4,240.14 | 4,412.01 | 4,590.85 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,876.58 | 961.49 | 901.07 | -1,072.43 | -222.59 | 4.83 | 5.02 | 5.23 | 5.44 | 5.66 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -949.05 | -1,602.39 | -1,069.29 | -290.12 | -346.69 | -611.95 | -636.76 | -662.57 | -689.42 | -717.37 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 927.53 | -640.90 | -168.22 | -1,362.54 | -569.28 | -607.12 | -631.73 | -657.34 | -683.98 | -711.71 |
Weighted Average Cost Of Capital
Share price | $ 95.73 |
---|---|
Beta | 2.227 |
Diluted Shares Outstanding | 113.76 |
Cost of Debt | |
Tax Rate | 25.28 |
After-tax Cost of Debt | 3.76% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 14.041 |
Total Debt | 12,049.73 |
Total Equity | 10,890.24 |
Total Capital | 22,939.98 |
Debt Weighting | 52.53 |
Equity Weighting | 47.47 |
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 | 6,306.37 | 6,717.66 | 6,611.10 | 2,095.86 | 3,763.66 | 3,916.22 | 4,074.96 | 4,240.14 | 4,412.01 | 4,590.85 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,876.58 | 961.49 | 901.07 | -1,072.43 | -222.59 | 4.83 | 5.02 | 5.23 | 5.44 | 5.66 |
Capital Expenditure | -949.05 | -1,602.39 | -1,069.29 | -290.12 | -346.69 | -611.95 | -636.76 | -662.57 | -689.42 | -717.37 |
Free Cash Flow | 927.53 | -640.90 | -168.22 | -1,362.54 | -569.28 | -607.12 | -631.73 | -657.34 | -683.98 | -711.71 |
WACC | ||||||||||
PV LFCF | -558.84 | -535.25 | -512.65 | -491.01 | -470.28 | |||||
SUM PV LFCF | -2,568.02 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.64 |
Free cash flow (t + 1) | -725.94 |
Terminal Value | -10,932.88 |
Present Value of Terminal Value | -7,224.14 |
Intrinsic Value
Enterprise Value | -9,792.16 |
---|---|
Net Debt | 9,527.20 |
Equity Value | -19,319.36 |
Shares Outstanding | 113.76 |
Equity Value Per Share | -169.83 |