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Major Indexes

Discounted Cash Flow (DCF) Analysis Levered


EchoStar Corporation

EchoStar Corporation (SATS)

$24.675
0.095 (+0.39%)

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 3,282.453,445.593,143.763,056.671,885.362,091.241,762.501,616.561,482.711,359.941,247.34
Revenue (%)
Operating Cash Flow 450.35840.03776.51803.29726.80734.44656.35461.85423.61388.54356.36
Operating Cash Flow (%)
Capital Expenditure 433.61723.57812.66722.29583.14555.22418.59380.86349.33320.40293.87
Capital Expenditure (%)
Free Cash Flow 883.961,563.611,589.171,525.591,309.951,289.671,074.95842.71772.94708.94650.24

Weighted Average Cost Of Capital

Weighted Average Cost Of Capital

Share price $ 24.675
Diluted Shares Outstanding 96.74
Cost of Debt
Tax Rate 69.29
After-tax Cost of Debt -3.41
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.51
Total Debt 0.49
Total Equity 2,387.01
Total Capital 2,387.50
Debt Weighting 0.02
Equity Weighting 99.98
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 3,282.453,445.593,143.763,056.671,885.362,091.241,762.501,616.561,482.711,359.941,247.34
Operating Cash Flow 450.35840.03776.51803.29726.80734.44656.35461.85423.61388.54356.36
Capital Expenditure 433.61723.57812.66722.29583.14555.22418.59380.86349.33320.40293.87
Free Cash Flow 883.961,563.611,589.171,525.591,309.951,289.671,074.95842.71772.94708.94650.24
WACC
PV LFCF 715.72604.97511.36432.24
SUM PV LFCF 8,141.68

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.51
Free cash flow (t + 1) 492.71
Terminal Value 10,924.76
Present Value of Terminal Value 7,262.12

Intrinsic Value

Enterprise Value 12,605.45
Net Debt -2,459.60
Equity Value 15,065.06
Shares Outstanding 96.74
Equity Value Per Share 212.62