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Major Indexes

Discounted Cash Flow (DCF) Analysis Levered


NVR Inc.

NVR Inc. (NVR)

$2871.62
-69.85 (-2.37%)

Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 4,211.274,444.575,158.815,822.246,305.487,163.037,971.028,870.159,870.7010,984.1212,223.13
Revenue (%)
Operating Cash Flow 270.36184.45203.26384.27568.75723.47534.86595.19662.32737.03820.17
Operating Cash Flow (%)
Capital Expenditure 18.9531.5618.0622.1220.1819.3433.4837.2541.4646.1351.34
Capital Expenditure (%)
Free Cash Flow 289.31216.01221.31406.39588.93742.81568.33632.44703.78783.17871.51

Weighted Average Cost Of Capital

Share price $ 2,871.62
Diluted Shares Outstanding 4.09
Cost of Debt
Tax Rate 16.94
After-tax Cost of Debt -0.80
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.13
Total Debt -
Total Equity 11,750.67
Total Capital 11,750.67
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 4,211.274,444.575,158.815,822.246,305.487,163.037,971.028,870.159,870.7010,984.1212,223.13
Operating Cash Flow 270.36184.45203.26384.27568.75723.47534.86595.19662.32737.03820.17
Capital Expenditure 18.9531.5618.0622.1220.1819.3433.4837.2541.4646.1351.34
Free Cash Flow 289.31216.01221.31406.39588.93742.81568.33632.44703.78783.17871.51
WACC
PV LFCF 568.33590.35613.22636.97661.65
SUM PV LFCF 3,751.52

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.13
Free cash flow (t + 1) 777.78
Terminal Value 24,849.18
Present Value of Terminal Value 17,609.89

Intrinsic Value

Enterprise Value 20,859.29
Net Debt -732.06
Equity Value 21,591.35
Shares Outstanding 4.09
Equity Value Per Share 6,110.68