Discounted Cash Flow (DCF) Analysis Levered

NVIDIA Corp

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 4,280.004,130.004,681.515,010.006,910.009,714.0011,716.0010,918.0012,620.6914,588.9316,864.1219,494.1322,534.29
Revenue (%)
Operating Cash Flow 824.20835.10905.661,175.001,672.003,502.003,743.004,761.003,440.383,976.914,597.125,314.066,142.80
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 640.90579.90783.281,089.001,496.002,909.003,143.004,272.002,919.073,374.313,900.554,508.855,212.02

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 4,280.004,130.004,681.515,010.006,910.009,714.0011,716.0010,918.0012,620.6914,588.9316,864.1219,494.1322,534.29
Operating Cash Flow 824.20835.10905.661,175.001,672.003,502.003,743.004,761.003,440.383,976.914,597.125,314.066,142.80
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 640.90579.90783.281,089.001,496.002,909.003,143.004,272.002,919.073,374.313,900.554,508.855,212.02
WACC
PV LFCF 2,546.072,567.072,588.232,609.572,631.09
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