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Markel Corporation

Markel Corporation (MKL)

Financial Services

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 4,323.085,133.665,369.815,611.996,061.516,841.027,508.028,240.059,043.459,925.1910,892.90
EBITDA 663.16758.761,055.17948.99418.24376.26989.561,086.041,191.931,308.141,435.68
EBIT 472.95554.95854.34754.81214.58148.45711.01780.33856.42939.921,031.56
Tax Rate 21.70%26.65%20.79%27.11%-383.18%-2,155.90%-407.14%-407.14%-407.14%-407.14%-407.14%
EBIAT 370.30407.06676.72550.191,036.793,348.883,605.793,957.364,343.204,766.665,231.41
Depreciation 190.22203.81200.83194.17203.67227.81278.55305.71335.51368.22404.13
Accounts Receivable -24.48116.37-161.32-5,764.94-832.863,631.80-449.83-493.69-541.83-594.66
Inventories -----------
Accounts Payable --19.51-51.206.2293.0812.9747.9037.5541.2145.2349.64
Capital Expenditure -34.58-2.13-16.5911.1432.16-5.369.8810.8511.9013.06
UFCF 560.52650.42940.59572.67-4,420.262,788.967,558.683,860.664,237.084,650.195,103.59
WACC
PV UFCF 7,558.683,860.664,237.084,650.195,103.59
SUM PV UFCF 26,503.09