Discounted Cash Flow (DCF) Analysis Unlevered

Jackson Financial Inc. (JXN)

$37.84

+0.10 (+0.27%)
All numbers are in Millions, Currency in USD
Stock DCF: 66,284.03 | 37.84 | undervalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 3,2413,112.308,06414,318.8425,425.2545,146.3480,164.10142,343.38
Revenue (%)
EBITDA -756.60-2,388.203,833-2,508.02-4,453.37-7,907.63-14,041.18-24,932.23
EBITDA (%)
EBIT ----2,508.02-4,453.37-7,907.63-14,041.18-24,932.23
EBIT (%)
Depreciation --------
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 59,025.2061,093.7054,170212,679.19377,643.80670,563.191,190,685.492,114,240.63
Total Cash (%)
Account Receivables 8,372.4035,269.5033,12686,025.01152,750.31271,231.08481,611.45855,173.34
Account Receivables (%)
Inventories --------
Inventories (%)
Accounts Payable -31,971.5029,00799,299.20176,320.63313,083.71555,927.07987,131.88
Accounts Payable (%)
Capital Expenditure --------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 37.84
Beta 0.000
Diluted Shares Outstanding 94.47
Cost of Debt
Tax Rate 21.35
After-tax Cost of Debt 1.10%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.691
Total Debt 2,649
Total Equity 3,574.57
Total Capital 6,223.57
Debt Weighting 42.56
Equity Weighting 57.44
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 3,2413,112.308,06414,318.8425,425.2545,146.3480,164.10142,343.38
EBITDA -756.60-2,388.203,833-2,508.02-4,453.37-7,907.63-14,041.18-24,932.23
EBIT ----2,508.02-4,453.37-7,907.63-14,041.18-24,932.23
Tax Rate 38.73%34.42%21.35%31.50%31.50%31.50%31.50%31.50%
EBIAT ----1,717.99-3,050.54-5,416.70-9,618.16-17,078.49
Depreciation --------
Accounts Receivable --26,897.102,143.50-52,899.01-66,725.30-118,480.77-210,380.37-373,561.89
Inventories --------
Accounts Payable ---2,964.5070,292.2077,021.42136,763.08242,843.36431,204.81
Capital Expenditure --------
UFCF ---15,675.207,245.5812,865.6222,844.8340,564.42
WACC
PV UFCF 16,081.197,245.5812,540.8121,705.9037,569.05
SUM PV UFCF 90,399.22

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.59
Free cash flow (t + 1) 41,375.71
Terminal Value 7,012,832.43
Present Value of Terminal Value 6,171,181.40

Intrinsic Value

Enterprise Value 6,261,580.61
Net Debt 26
Equity Value 6,261,554.61
Shares Outstanding 94.47
Equity Value Per Share 66,284.03