Help with 10 year DCF (EXCEL ATTACHED)
I am trying to do a DCF valuation on DuPont, but my enterprise value is really small compared to the # of shares outstanding. I used a template off stockodo. Please lead me in the right direction. Thanks! I have a worksheet called "Discounted Cash Flow modified" - that sheet includes Net non-op L (G) and Other Non-Cash Adjustments, but the help I am asking for you is for the worksheet called, "Discounted Cash Flow". If you could please help me I shouldn't be getting a book value of ~9.
Few extra points: 1. The FCF are different on Bloomberg, but I am following the steps off stockodo. 2. I added the extra factors in "Discounted Cash Flow modified" to see if I could get a more accurate number, because anything with %5 of total revenue should be significant I believe. You do not have to work out the DCF on this sheet if you do not want to and just follow it like the stockodo worksheet called, "Discounted Cash Flow". 3. Duponts Enterprise value is like 73B but that is because that is not from doing a dcf that is from stock MC + Debt - Cash. 4. DuPonts P/B value is ~5 so does this mean that the stock should be worth around $15 if it was trading at say $75.
Thanks!
Please let me know how to fix the sheet called "Discounted Cash Flow" for DuPont THANKS.
| Attachment | Size |
|---|---|
| DD_DCF.xls 92.5 KB | 92.5 KB |
Looks like a consequence of the big jump in capex. I held capex steady at 6% and got a TP of 45. Is that more like what you're looking for?
My modified version is way better. I realize that I did not change the CAPEX % change inputs thanks. I got a PT of around 40 for the DCF worksheet and a PT of $50 for the modified version. I also changed the LT growth to 4% and I will change a few things instead of having constant growth through out all the periods.
Thanks to posting this online I was able to see where I made a mistake. I was stuck on it for too much time and it bothered me so I posted it up here. TY
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