Discounted Cash Flow (DCF) Analysis Unlevered

Sumitomo Mitsui Financial Group, In... (SMFG)

$8.24

-0.05 (-0.60%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: -1,721.63 | 8.24 | overvalue

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 4,569,7524,165,054.993,677,2362,998,783.023,502,102.033,307,436.363,123,591.252,949,965.242,785,990.312,631,129.98
Revenue (%)
EBITDA 2,087,206.992,510,512.012,278,064.991,414,160.011,543,089.021,714,046.281,618,770.371,528,790.401,443,812.011,363,557.17
EBITDA (%)
EBIT 1,780,446.992,215,583.012,051,333.971,186,9801,301,173.021,486,209.231,403,597.721,325,578.211,251,895.441,182,308.36
EBIT (%)
Depreciation 306,760294,929226,731.02227,180241,916227,837.05215,172.64203,212.19191,916.56181,248.81
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 73,855,198.0274,917,38983,312,187.99103,548,320.9974,792,122.9974,544,024.1570,400,466.2466,487,229.5762,791,511.6559,301,221.62
Total Cash (%)
Account Receivables 2,329,430.99247,834.02219,733.02236,392228,608.01511,405.57482,978.89456,132.33430,778.04406,833.08
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2,378,405.981,532,6032,348,672.993,247,936.012,285,318.602,158,288.302,038,319.021,925,018.291,818,015.411,716,960.34
Accounts Payable (%)
Capital Expenditure -848,642.02-649,541.99-250,836-324,711.01-288,188.01-397,185.43-375,107.73-354,257.23-334,565.70-315,968.74
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 8.24
Beta 0.778
Diluted Shares Outstanding 6,856.49
Cost of Debt
Tax Rate 23.98
After-tax Cost of Debt 0.90%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.367
Total Debt 32,124,462
Total Equity 56,497.48
Total Capital 32,180,959.48
Debt Weighting 99.82
Equity Weighting 0.18
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 4,569,7524,165,054.993,677,2362,998,783.023,502,102.033,307,436.363,123,591.252,949,965.242,785,990.312,631,129.98
EBITDA 2,087,206.992,510,512.012,278,064.991,414,160.011,543,089.021,714,046.281,618,770.371,528,790.401,443,812.011,363,557.17
EBIT 1,780,446.992,215,583.012,051,333.971,186,9801,301,173.021,486,209.231,403,597.721,325,578.211,251,895.441,182,308.36
Tax Rate 33.77%35.32%20.79%23.72%23.98%27.52%27.52%27.52%27.52%27.52%
EBIAT 1,179,152.541,432,940.701,624,830.48905,480.64989,093.221,077,239.651,017,360.88960,810.49907,403.47856,965.10
Depreciation 306,760294,929226,731.02227,180241,916227,837.05215,172.64203,212.19191,916.56181,248.81
Accounts Receivable -2,081,596.9728,101-16,658.987,783.99-282,797.5628,426.6726,846.5725,354.2923,944.96
Inventories ----------
Accounts Payable --845,802.98816,069.99899,263.01-962,617.40-127,030.30-119,969.28-113,300.74-107,002.87-101,055.08
Capital Expenditure -848,642-649,542-250,836-324,711-288,188-397,185.43-375,107.73-354,257.23-334,565.70-315,968.74
UFCF 637,270.522,314,121.702,444,896.501,690,553.67-12,012.21498,063.41765,883.19723,311.28683,105.75645,135.05
WACC
PV UFCF 493,571.91752,132.10703,918.89658,796.24616,566.05
SUM PV UFCF 3,224,985.19

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 0.91
Free cash flow (t + 1) 658,037.75
Terminal Value -60,370,436.21
Present Value of Terminal Value -57,697,006.74

Intrinsic Value

Enterprise Value -54,472,021.56
Net Debt -42,667,661
Equity Value -11,804,360.56
Shares Outstanding 6,856.49
Equity Value Per Share -1,721.63