Discounted Cash Flow (DCF) Analysis Unlevered

Monster Beverage Corporation (MNST)

$55.045

-0.71 (-1.28%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 55.045 | undervalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 3,807.184,200.824,598.645,541.356,311.057,166.198,137.199,239.7610,491.7411,913.35
Revenue (%)
EBITDA 1,340.601,402.941,633.151,797.471,584.722,317.122,631.092,987.603,392.413,852.08
EBITDA (%)
EBIT 1,283.621,338.121,572.181,747.311,523.482,227.682,529.522,872.273,261.453,703.38
EBIT (%)
Depreciation 56.9864.8160.9750.1561.2489.45101.57115.33130.96148.70
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 958.161,331.022,061.773,076.192,669.452,859.283,246.703,686.624,186.164,753.37
Total Cash (%)
Account Receivables 484.56540.33666.01896.661,016.201,037.031,177.551,337.111,518.281,724.01
Account Receivables (%)
Inventories 277.70360.73333.09593.36935.63697.38791.87899.171,021.011,159.35
Inventories (%)
Accounts Payable 248.76274.05296.80404.26444.26485.10550.83625.47710.22806.45
Accounts Payable (%)
Capital Expenditure -74.93-110.40-67.27-57.45-212.15-149.88-170.19-193.25-219.43-249.16
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 55.045
Beta 0.832
Diluted Shares Outstanding 1,066.44
Cost of Debt
Tax Rate 24.20
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.404
Total Debt -
Total Equity 58,702.30
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 3,807.184,200.824,598.645,541.356,311.057,166.198,137.199,239.7610,491.7411,913.35
EBITDA 1,340.601,402.941,633.151,797.471,584.722,317.122,631.092,987.603,392.413,852.08
EBIT 1,283.621,338.121,572.181,747.311,523.482,227.682,529.522,872.273,261.453,703.38
Tax Rate 23.22%21.76%13.32%23.53%24.20%21.21%21.21%21.21%21.21%21.21%
EBIAT 985.591,046.941,362.811,336.101,154.871,755.301,993.142,263.202,569.862,918.07
Depreciation 56.9864.8160.9750.1561.2489.45101.57115.33130.96148.70
Accounts Receivable --55.77-125.68-230.65-119.54-20.83-140.52-159.56-181.18-205.72
Inventories --83.0327.65-260.27-342.27238.25-94.49-107.30-121.84-138.34
Accounts Payable -25.2922.75107.464040.8465.7374.6484.7596.23
Capital Expenditure -74.92-110.40-67.27-57.45-212.15-149.88-170.19-193.25-219.43-249.16
UFCF 967.65887.841,281.23945.35582.141,953.121,755.241,993.072,263.132,569.77
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 2,621.17
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -1,307.14
Equity Value -
Shares Outstanding 1,066.44
Equity Value Per Share -