Discounted Cash Flow (DCF) Analysis Levered
Seaboard Corporation (SEB)
Industrials
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 | 6,670.41 | 6,472.97 | 5,593.94 | 5,379.13 | 5,808.93 | 6,582.67 | 6,595.18 | 6,607.71 | 6,620.27 | 6,632.85 | 6,645.45 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | 124.74 | 374.14 | 416.19 | 427.10 | 245.14 | 238.29 | 338.99 | 339.64 | 340.28 | 340.93 | 341.58 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | 149.42 | 121.04 | 138.73 | 158.15 | 173.11 | 161.93 | 164.88 | 165.19 | 165.51 | 165.82 | 166.14 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | 274.15 | 495.18 | 554.92 | 585.25 | 418.24 | 400.23 | 503.87 | 504.83 | 505.79 | 506.75 | 507.71 |
Weighted Average Cost Of Capital
| Share price | $ 4,120 |
|---|---|
| Diluted Shares Outstanding | 1.17 |
| Cost of Debt | |
| Tax Rate | -6.25 |
| After-tax Cost of Debt | 0.36 |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.86 |
| Total Debt | 739.00 |
| Total Equity | 4,822.46 |
| Total Capital | 5,561.46 |
| Debt Weighting | 13.29 |
| Equity Weighting | 86.71 |
| 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 | 6,670.41 | 6,472.97 | 5,593.94 | 5,379.13 | 5,808.93 | 6,582.67 | 6,595.18 | 6,607.71 | 6,620.27 | 6,632.85 | 6,645.45 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 124.74 | 374.14 | 416.19 | 427.10 | 245.14 | 238.29 | 338.99 | 339.64 | 340.28 | 340.93 | 341.58 |
| Capital Expenditure | 149.42 | 121.04 | 138.73 | 158.15 | 173.11 | 161.93 | 164.88 | 165.19 | 165.51 | 165.82 | 166.14 |
| Free Cash Flow | 274.15 | 495.18 | 554.92 | 585.25 | 418.24 | 400.23 | 503.87 | 504.83 | 505.79 | 506.75 | 507.71 |
| WACC | |||||||||||
| PV LFCF | 503.87 | 473.31 | 444.60 | 417.63 | 392.29 | ||||||
| SUM PV LFCF | 3,597.75 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.66 |
| Free cash flow (t + 1) | 333.83 |
| Terminal Value | 12,549.95 |
| Present Value of Terminal Value | 9,091.47 |
Intrinsic Value
| Enterprise Value | 11,388.91 |
|---|---|
| Net Debt | 544.81 |
| Equity Value | 10,844.10 |
| Shares Outstanding | 1.17 |
| Equity Value Per Share | 14,893.64 |