Discounted Cash Flow (DCF) Analysis Levered

NVIDIA Corp (NVDA)
$514.38
-13.63 (-2.58%)
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 | 4,280.00 | 4,130.00 | 4,681.51 | 5,010.00 | 6,910.00 | 9,714.00 | 11,716.00 | 10,918.00 | 12,620.69 | 14,588.93 | 16,864.12 | 19,494.13 | 22,534.29 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||||||
Operating Cash Flow | 824.20 | 835.10 | 905.66 | 1,175.00 | 1,672.00 | 3,502.00 | 3,743.00 | 4,761.00 | 3,440.38 | 3,976.91 | 4,597.12 | 5,314.06 | 6,142.80 |
Operating Cash Flow (%) | |||||||||||||
Capital Expenditure | -183.30 | -255.20 | -122.38 | -86.00 | -176.00 | -593.00 | -600.00 | -489.00 | -521.30 | -602.60 | -696.58 | -805.21 | -930.79 |
Capital Expenditure (%) | |||||||||||||
Free Cash Flow | 640.90 | 579.90 | 783.28 | 1,089.00 | 1,496.00 | 2,909.00 | 3,143.00 | 4,272.00 | 2,919.07 | 3,374.31 | 3,900.55 | 4,508.85 | 5,212.02 |
Weighted Average Cost Of Capital
Share price | $ 514.38 |
---|---|
Beta | 1.539 |
Diluted Shares Outstanding | 618.00 |
Cost of Debt | |
Tax Rate | 5.86 |
After-tax Cost of Debt | 4.71% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 14.712 |
Total Debt | 1,991.00 |
Total Equity | 317,886.84 |
Total Capital | 319,877.84 |
Debt Weighting | 0.62 |
Equity Weighting | 99.38 |
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 | 4,280.00 | 4,130.00 | 4,681.51 | 5,010.00 | 6,910.00 | 9,714.00 | 11,716.00 | 10,918.00 | 12,620.69 | 14,588.93 | 16,864.12 | 19,494.13 | 22,534.29 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 824.20 | 835.10 | 905.66 | 1,175.00 | 1,672.00 | 3,502.00 | 3,743.00 | 4,761.00 | 3,440.38 | 3,976.91 | 4,597.12 | 5,314.06 | 6,142.80 |
Capital Expenditure | -183.30 | -255.20 | -122.38 | -86.00 | -176.00 | -593.00 | -600.00 | -489.00 | -521.30 | -602.60 | -696.58 | -805.21 | -930.79 |
Free Cash Flow | 640.90 | 579.90 | 783.28 | 1,089.00 | 1,496.00 | 2,909.00 | 3,143.00 | 4,272.00 | 2,919.07 | 3,374.31 | 3,900.55 | 4,508.85 | 5,212.02 |
WACC | |||||||||||||
PV LFCF | 2,546.07 | 2,567.07 | 2,588.23 | 2,609.57 | 2,631.09 | ||||||||
SUM PV LFCF | 12,942.03 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 14.65 |
Free cash flow (t + 1) | 5,420.50 |
Terminal Value | 50,896.68 |
Present Value of Terminal Value | 25,693.26 |
Intrinsic Value
Enterprise Value | 38,635.29 |
---|---|
Net Debt | -8,905.00 |
Equity Value | 47,540.29 |
Shares Outstanding | 618.00 |
Equity Value Per Share | 76.93 |