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Discounted Cash Flow (DCF) Analysis Unlevered


RSP Permian Inc.

RSP Permian Inc. (RSPP)

Energy

Operating Data

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 123.00282.00284.00354.01804.031,370.392,335.693,980.956,785.1411,564.5919,710.69
Revenue (%)
EBITDA 117.00262.01167.99204.02477.03921.591,570.752,677.194,563.017,777.1913,255.44
EBITDA (%)
EBIT 70.00174.0014.0010.02197.07321.90548.65935.131,593.832,716.524,630.04
EBIT (%)
Depreciation 47.0088.01153.99194.00279.96599.681,022.101,742.072,969.185,060.668,625.40
Depreciation (%)

Balance Sheet Data

Year
A/P
2013
Projected
2014
Projected
2015
Projected
2016
Projected
2017
Projected
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Total Cash -----------
Total Cash (%)
Account Receivables 33.0034.0128.0073.99111.04194.05330.73563.70960.781,637.552,791.03
Account Receivables (%)
Inventories -----------
Inventories (%)
Accounts Payable 19.0036.0115.9913.9827.0288.12150.19255.98436.28743.601,267.40
Accounts Payable (%)
Capital Expenditure -235.00-816.00-873.00-963.02-1,516.96-3,622.76-6,174.64-10,524.05-17,937.19-30,572.15-52,107.17
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 47.93
Diluted Shares Outstanding 156.00
Cost of Debt
Tax Rate -
After-tax Cost of Debt -
Risk-Free Rate
Market Risk Premium
Cost of Equity 15.40
Total Debt 1,509.00
Total Equity 7,477.08
Total Capital 8,986.08
Debt Weighting 16.79
Equity Weighting 83.21
Wacc

Build Up Free Cash

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 123.00282.00284.00354.01804.031,370.392,335.693,980.956,785.1411,564.5919,710.69
EBITDA 117.00262.01167.99204.02477.03921.591,570.752,677.194,563.017,777.1913,255.44
EBIT 70.00174.0014.0010.02197.07321.90548.65935.131,593.832,716.524,630.04
Tax Rate -----------
EBIAT -----------
Depreciation 47.0088.01153.99194.00279.96599.681,022.101,742.072,969.185,060.668,625.40
Accounts Receivable --1.016.01-45.99-37.05-83.01-136.69-232.97-397.07-676.77-1,153.49
Inventories -----------
Accounts Payable -17.01-20.02-2.0113.0361.1062.07105.79180.31307.32523.79
Capital Expenditure -581.0057.0090.02553.952,105.802,551.874,349.417,413.1412,634.9621,535.02
UFCF -----------
WACC
PV UFCF ------
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 1,509.00
Equity Value -
Shares Outstanding 156.00
Equity Value Per Share -

Results Unlevered DCF

Wacc / Long-term Growth -4 (%)-3 (%)-2 (%)-1 (%)0 (%)1 (%)2 (%)3 (%)4 (%)
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell
- (%) - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell - Sell