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Major Indexes

Discounted Cash Flow (DCF) Analysis Levered


Abbott Laboratories

Abbott Laboratories (ABT)

$79.34
4.78 (+6.41%)

Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 21,848.0020,246.5420,404.4620,853.3627,390.8930,579.1931,906.3334,190.8236,638.8839,262.2342,073.40
Revenue (%)
Operating Cash Flow 3,323.083,674.752,966.813,203.085,571.316,299.316,135.596,027.846,459.446,921.937,417.54
Operating Cash Flow (%)
Capital Expenditure 1,144.841,077.121,110.001,121.911,133.981,394.411,636.791,719.801,842.941,974.892,116.29
Capital Expenditure (%)
Free Cash Flow 4,467.924,751.864,076.814,324.996,705.297,693.727,772.387,747.648,302.378,896.829,533.83

Weighted Average Cost Of Capital

Share price $ 79.34
Diluted Shares Outstanding 1,781.00
Cost of Debt
Tax Rate 9.57
After-tax Cost of Debt -0.43
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.31
Total Debt 16,661.00
Total Equity 141,304.54
Total Capital 157,965.54
Debt Weighting 10.55
Equity Weighting 89.45
Wacc

Build Up Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 21,848.0020,246.5420,404.4620,853.3627,390.8930,579.1931,906.3334,190.8236,638.8839,262.2342,073.40
Operating Cash Flow 3,323.083,674.752,966.813,203.085,571.316,299.316,135.596,027.846,459.446,921.937,417.54
Capital Expenditure 1,144.841,077.121,110.001,121.911,133.981,394.411,636.791,719.801,842.941,974.892,116.29
Free Cash Flow 4,467.924,751.864,076.814,324.996,705.297,693.727,772.387,747.648,302.378,896.829,533.83
WACC
PV LFCF 5,177.845,016.804,860.764,709.57
SUM PV LFCF 39,132.02

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.60
Free cash flow (t + 1) 8,058.29
Terminal Value 122,095.25
Present Value of Terminal Value 73,777.36

Intrinsic Value

Enterprise Value 107,487.14
Net Debt 12,519.56
Equity Value 94,967.58
Shares Outstanding 1,781.00
Equity Value Per Share 65.91