Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 10.3% - 9.3% | 9.8% |
| Terminal Revenue Multiple | 1.0x - 1.1x | 1.0x |
| Fair Value | $29.04 - $32.81 | $30.89 |
| Upside | 25.3% - 41.6% | 33.3% |
| Select Revenue and EBITDA Forecast | ||||||
| (USD in millions) | Input Projections | |||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
| Revenue | 5,291 | 5,733 | 6,121 | 6,398 | 6,526 | 6,657 |
| % Growth | -3.8% | 8.4% | 6.8% | 4.5% | 2.0% | 2.0% |
| EBITDA | 548 | 676 | 799 | 908 | 926 | 945 |
| % of Revenue | 10.4% | 11.8% | 13.1% | 14.2% | 14.2% | 14.2% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (USD in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
| EBITDA | 676 | 799 | 908 | 926 | 945 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (457) | (469) | (451) | (460) | (469) | |
| EBIT | 219 | 331 | 457 | 466 | 475 | |
| Pro forma Taxes | (53) | (79) | (110) | (112) | (114) | |
| NOPAT | 127 | 166 | 251 | 347 | 354 | 361 |
| Capital Expenditures | (539) | (373) | (439) | (452) | (461) | (470) |
| NWC Investment | 15 | (31) | (27) | (20) | (9) | (9) |
| (+) D&A | 381 | 457 | 469 | 451 | 460 | 469 |
| Free Cash Flow | (16) | 219 | 254 | 327 | 344 | 351 |
| % Growth | NM | 16% | 29% | 5% | 2% | |