Discounted Cash Flow (DCF) Analysis Levered

América Móvil, S.A.B. de C.V. (AMOV)

$ 16.39
0.38 (+2.30%)

Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 786,101.02848,261.82894,216.62975,412.481,021,633.531,038,207.671,007,347.861,016,886.991,055,732.941,096,062.841,137,933.371,181,403.391,226,534
Revenue (%)
Operating Cash Flow 187,789.29240,610.52163,726.99235,798.06217,772.37248,330.52234,278.47280,827.54251,853.22261,474.23271,462.77281,832.88292,599.13
Operating Cash Flow (%)
Capital Expenditure -121,750.75-145,584.95-151,572.74-155,023.90-136,723.68-151,821.68-151,847.19-129,554.99-160,095-166,210.76-172,560.15-179,152.10-185,995.86
Capital Expenditure (%)
Free Cash Flow 66,038.5495,025.5612,154.2580,774.1681,048.6996,508.8582,431.28151,272.5591,758.2395,263.4798,902.61102,680.78106,603.27

Weighted Average Cost Of Capital

Share price $ 16.39
Beta 0.306
Diluted Shares Outstanding 3,343.63
Cost of Debt
Tax Rate 30.77
After-tax Cost of Debt 3.46%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.899
Total Debt 628,383
Total Equity 54,802.06
Total Capital 683,185.06
Debt Weighting 91.98
Equity Weighting 8.02
Wacc

Build Up Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 786,101.02848,261.82894,216.62975,412.481,021,633.531,038,207.671,007,347.861,016,886.991,055,732.941,096,062.841,137,933.371,181,403.391,226,534
Operating Cash Flow 187,789.29240,610.52163,726.99235,798.06217,772.37248,330.52234,278.47280,827.54251,853.22261,474.23271,462.77281,832.88292,599.13
Capital Expenditure -121,750.75-145,584.95-151,572.74-155,023.90-136,723.68-151,821.68-151,847.19-129,554.99-160,095-166,210.76-172,560.15-179,152.10-185,995.86
Free Cash Flow 66,038.5495,025.5612,154.2580,774.1681,048.6996,508.8582,431.28151,272.5591,758.2395,263.4798,902.61102,680.78106,603.27
WACC
PV LFCF 88,586.8288,792.1588,997.9689,204.2589,411.01
SUM PV LFCF 444,992.18

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.58
Free cash flow (t + 1) 110,867.40
Terminal Value -26,397,000.37
Present Value of Terminal Value -22,139,868.91

Intrinsic Value

Enterprise Value -21,694,876.73
Net Debt 537,829
Equity Value -22,232,705.73
Shares Outstanding 3,343.63
Equity Value Per Share -6,649.28