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 | 6,670.00 | 6,473.23 | 5,594.17 | 5,379.35 | 5,809.16 | 6,582.94 | 6,595.45 | 6,607.98 | 6,620.54 | 6,633.12 | 6,645.72 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | 124.73 | 374.15 | 416.21 | 427.12 | 245.15 | 238.30 | 339.01 | 339.65 | 340.30 | 340.94 | 341.59 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -134.73 | -104.87 | -91.18 | -110.81 | -167.88 | -156.67 | -138.50 | -138.77 | -139.03 | -139.30 | -139.56 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | -10.00 | 269.29 | 325.02 | 316.31 | 77.26 | 81.63 | 200.50 | 200.88 | 201.26 | 201.65 | 202.03 |
Weighted Average Cost Of Capital
| Share price | $ 4,160 |
|---|---|
| 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 | 7.60 |
| Total Debt | 739.00 |
| Total Equity | 4,869.28 |
| Total Capital | 5,608.28 |
| Debt Weighting | 13.18 |
| Equity Weighting | 86.82 |
| 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 | 6,670.00 | 6,473.23 | 5,594.17 | 5,379.35 | 5,809.16 | 6,582.94 | 6,595.45 | 6,607.98 | 6,620.54 | 6,633.12 | 6,645.72 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 124.73 | 374.15 | 416.21 | 427.12 | 245.15 | 238.30 | 339.01 | 339.65 | 340.30 | 340.94 | 341.59 |
| Capital Expenditure | -134.73 | -104.87 | -91.18 | -110.81 | -167.88 | -156.67 | -138.50 | -138.77 | -139.03 | -139.30 | -139.56 |
| Free Cash Flow | -10.00 | 269.29 | 325.02 | 316.31 | 77.26 | 81.63 | 200.50 | 200.88 | 201.26 | 201.65 | 202.03 |
| WACC | |||||||||||
| PV LFCF | 186.86 | 174.48 | 162.92 | 152.12 | 142.04 | ||||||
| SUM PV LFCF | 1,370.35 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.30 |
| Free cash flow (t + 1) | 416.19 |
| Terminal Value | 12,611.83 |
| Present Value of Terminal Value | 8,867.05 |
Intrinsic Value
| Enterprise Value | 11,547.50 |
|---|---|
| Net Debt | -790.88 |
| Equity Value | 12,338.38 |
| Shares Outstanding | 1.17 |
| Equity Value Per Share | 5,670.83 |