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    DCF Analysis Coba2

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    Main Saham
    This document provides a discounted cash flow valuation of an entity. It includes projections of EBIT, tax rate, EBIAT, depreciation, net working capital, capital expenditures and unlevered free cash flows for years 2016-2017. It then calculates the present value of these cash flows plus a terminal value based on long term growth of 7% and discount rate of 18.56%. Assumptions include a beta of 2.11, tax rate of 11%, and cost of debt and equity. It then calculates WACC, enterprise value, net debt, equity value and equity value per share.

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    DCF Analysis Coba2

    Uploaded by

    Main Saham
    44 views6 pages
    This document provides a discounted cash flow valuation of an entity. It includes projections of EBIT, tax rate, EBIAT, depreciation, net working capital, capital expenditures and unlevered free cash flows for years 2016-2017. It then calculates the present value of these cash flows plus a terminal value based on long term growth of 7% and discount rate of 18.56%. Assumptions include a beta of 2.11, tax rate of 11%, and cost of debt and equity. It then calculates WACC, enterprise value, net debt, equity value and equity value per share.

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    My first try of dcf analysis

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    This document provides a discounted cash flow valuation of an entity. It includes projections of EBIT, tax rate, EBIAT, depreciation, net working capital, capital expenditures and unlevered free cash flows for years 2016-2017. It then calculates the present value of these cash flows plus a terminal value based on long term growth of 7% and discount rate of 18.56%. Assumptions include a beta of 2.11, tax rate of 11%, and cost of debt and equity. It then calculates WACC, enterprise value, net debt, equity value and equity value per share.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    44 views6 pages

    DCF Analysis Coba2

    Uploaded by

    Main Saham
    This document provides a discounted cash flow valuation of an entity. It includes projections of EBIT, tax rate, EBIAT, depreciation, net working capital, capital expenditures and unlevered free cash flows for years 2016-2017. It then calculates the present value of these cash flows plus a terminal value based on long term growth of 7% and discount rate of 18.56%. Assumptions include a beta of 2.11, tax rate of 11%, and cost of debt and equity. It then calculates WACC, enterprise value, net debt, equity value and equity value per share.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    Valuation

    Free Cash Flow Build-up


    Projected Cash
    2016 E 2017 E
    Period 1 2
    EBIT 1,407,557,486 1,469,479,920
    Tax rate 11% 11%
    EBIAT 1,255,393,412 1,310,621,718
    Depreciation & Amortization 293,364,935 312,096,872
    Net Working 216,281,520 240,052,313
    Capital Expenditures 4,182,636,846 381,874,145
    Unlevered free cash flows 5,947,676,714 2,244,645,047
    Terminal Growth
    Terminal Growth rate
    Discount rate (WACC) 18.56% 18.56%
    Present value of free cash flows 5,016,583,480 1,596,868,128
    Terminal Value
    PV of continuing Value
    Sum of present values of FCFs

    Terminal Value

    Long term growth rate 7%


    WACC 18.56%
    Free cash Flow 19,917,500,330

    Assumptions
    Beta 2.11
    Diluted Shares Outstanding 19649410
    Cost of Debt 9.40%
    Tax rate 11%
    After tax cost of debt 8.38%
    Cost of equity 37.22%

    Total Debt 12,107,460,464


    Total Equity 6,602,409,662
    Total Capital 18,709,870,126

    Debt weighing 64.71%


    Equity weighing 35.29%

    WACC= 18.56%
    Enterprise Value to Equity Value
    Enterprise Value 19,917,500,330
    Less Net debt 12,107,460,464
    Plus Cash and Cash equivalents 638,388,319
    Equity Value 8,448,428,185
    Diluted Shares Outstanding 19649410
    Equity Value per share 429.96
    Projected Cash Flow
    2018 E 2019 E Perpetuity
    3 4 5
    1,534,126,497 1,601,617,060 1,672,076,724
    11% 11% 11%
    1,368,279,674 1,428,474,166 1,491,316,784
    322,284,513 332,472,717 336,670,946
    292,712,558 327,251,379 338,810,796
    345,907,016 307,546,467 275,867,566
    2,329,183,761 2,395,744,729 2,442,666,092
    2,613,652,718
    7%
    18.56% 18.56% 18.56%
    1,397,609,427 1,212,504,330 1,042,719,631
    22,608,854,523
    9,651,215,335
    19,917,500,330

    0.5135892208 0.0940145962
    0.4864107792
    marekt return
    90
    0.1730769231
    20.30%

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