Discounted Cash Flow (DCF) Analysis Unlevered

DTE Energy Company 6.25% Corpor (DTP)

$51.78

+0.15 (+0.29%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 51.78 | undervalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 12,60714,21212,66912,17714,96415,745.0416,566.8517,431.5618,341.3919,298.72
Revenue (%)
EBITDA 2,8752,9013,2253,6983,0733,765.513,962.054,168.854,386.444,615.39
EBITDA (%)
EBIT 1,8451,7771,9622,2551,9642,338.712,460.782,589.222,724.362,866.56
EBIT (%)
Depreciation 1,0301,1241,2631,4431,1091,426.801,501.271,579.631,662.081,748.83
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 667193514215233.50245.69258.51272286.20
Total Cash (%)
Account Receivables 1,8561,8971,8871,7922,157.842,270.462,388.972,513.662,644.862,782.91
Account Receivables (%)
Inventories 779811759716888.73935.12983.931,035.281,089.321,146.17
Inventories (%)
Accounts Payable 1,1711,3291,0761,0291,4141,418.081,492.101,569.981,651.921,738.14
Accounts Payable (%)
Capital Expenditure -2,250-2,713-2,997-3,857-3,451.72-3,631.88-3,821.45-4,020.91-4,230.78-4,451.60
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 51.78
Beta 0.000
Diluted Shares Outstanding -
Cost of Debt
Tax Rate -37.65
After-tax Cost of Debt 83.11%
Risk-Free Rate
Market Risk Premium
Cost of Equity 2.888
Total Debt 758
Total Equity -
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 12,60714,21212,66912,17714,96415,745.0416,566.8517,431.5618,341.3919,298.72
EBITDA 2,8752,9013,2253,6983,0733,765.513,962.054,168.854,386.444,615.39
EBIT 1,8451,7771,9622,2551,9642,338.712,460.782,589.222,724.362,866.56
Tax Rate 11.89%7.89%11.71%11.05%-37.65%0.98%0.98%0.98%0.98%0.98%
EBIAT 1,625.661,636.711,732.312,005.752,703.492,315.842,436.712,563.892,697.722,838.52
Depreciation 1,0301,1241,2631,4431,1091,426.801,501.271,579.631,662.081,748.83
Accounts Receivable --411095-365.84-112.63-118.51-124.69-131.20-138.05
Inventories --325243-172.73-46.39-48.81-51.36-54.04-56.86
Accounts Payable -158-253-473854.0874.0277.8881.9486.22
Capital Expenditure -2,250-2,713-2,997-3,857-3,451.72-3,631.88-3,821.45-4,020.91-4,230.78-4,451.60
UFCF 405.66132.71-192.69-317.25207.20-44.1823.2324.4525.7227.06
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 27.60
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 730
Equity Value -
Shares Outstanding -
Equity Value Per Share -