DCF Tool

BP

BP plc
BP p.l.c. is a British multinational oil and gas company headquartered in London, England. It is one of the oil and gas "supermajors" and one of the worlds largest companies measured by revenues and profits.
Analysis Results
Intrinsic Value $913.95
Latest Price $39.44
Relative Value 96% undervalued
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Cash Flow (Billions)
Analysis Parameters
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Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 27.7%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 5.0%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 27.7%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2024 38.5 36.6
2025 49.2 44.6
2026 62.8 54.2
2027 80.2 65.9
2028 102 80.1
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 3070 billion. This corresponds to a present value of 2290 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 281 billion. Adding in the terminal value gives a total present value of 2570 billion.

There are presently 2.81 billion outstanding shares, so the intrinsic value per share is 913.95.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 106,088,000,000
Current Cash 33,030,000,000
Current Liabilities 86,078,000,000
Current Debt 5,934,000,000
Non-Cash Working Capital (NCWC) -7,086,000,000
Change in NCWC 6,868,000,000
EBIT 31,947,000,000
Tax Provision 7,869,000,000
Depreciation and Amortization 15,928,000,000
Capital Expenditure -14,285,000,000
Unlevered Free Cash Flow 29,872,672,491
Current Assets 108,959,000,000
Current Cash 29,195,000,000
Current Liabilities 99,018,000,000
Current Debt 5,300,000,000
Non-Cash Working Capital (NCWC) -13,954,000,000
Change in NCWC -3,802,000,000
EBIT 43,977,000,000
Tax Provision 16,762,000,000
Depreciation and Amortization 14,318,000,000
Capital Expenditure -12,069,000,000
Unlevered Free Cash Flow 25,662,000,000
Current Assets 93,512,000,000
Current Cash 30,681,000,000
Current Liabilities 80,287,000,000
Current Debt 7,304,000,000
Non-Cash Working Capital (NCWC) -10,152,000,000
Change in NCWC -4,356,000,000
EBIT 14,405,000,000
Tax Provision 6,740,000,000
Depreciation and Amortization 14,805,000,000
Capital Expenditure -10,887,000,000
Unlevered Free Cash Flow 7,590,427,032
Current Assets 73,822,000,000
Current Cash 31,111,000,000
Current Liabilities 59,799,000,000
Current Debt 11,292,000,000
Non-Cash Working Capital (NCWC) -5,796,000,000
Change in NCWC -4,972,000,000
EBIT -976,000,000
Tax Provision -4,159,000,000
Depreciation and Amortization 14,889,000,000
Capital Expenditure -12,306,000,000
Unlevered Free Cash Flow -3,365,000,000
Current Assets 82,689,000,000
Current Cash 22,472,000,000
Current Liabilities 73,595,000,000
Current Debt 12,554,000,000
Non-Cash Working Capital (NCWC) -824,000,000
Change in NCWC 8,562,000,000
EBIT 19,450,000,000
Tax Provision 3,964,000,000
Depreciation and Amortization 17,780,000,000
Capital Expenditure -15,418,000,000
Unlevered Free Cash Flow 20,918,542,555
Current Assets 71,947,000,000
Current Cash 22,469,000,000
Current Liabilities 68,237,000,000
Current Debt 9,373,000,000
Non-Cash Working Capital (NCWC) -9,386,000,000
Change in NCWC -3,900,000,000
EBIT 20,094,000,000
Tax Provision 7,145,000,000
Depreciation and Amortization 15,457,000,000
Capital Expenditure -16,707,000,000
Unlevered Free Cash Flow 6,358,720,444
Current Assets 75,614,000,000
Current Cash 24,113,000,000
Current Liabilities 64,726,000,000
Current Debt 7,739,000,000
Non-Cash Working Capital (NCWC) -5,486,000,000
Change in NCWC 1,417,000,000
EBIT 10,426,000,000
Tax Provision 3,712,000,000
Depreciation and Amortization 15,584,000,000
Capital Expenditure -16,562,000,000
Unlevered Free Cash Flow 5,474,845,125
Current Assets 68,345,000,000
Current Cash 23,528,000,000
Current Liabilities 58,354,000,000
Current Debt 6,634,000,000
Non-Cash Working Capital (NCWC) -6,903,000,000
Change in NCWC -3,865,000,000
EBIT -2,458,000,000
Tax Provision -2,467,000,000
Depreciation and Amortization 14,505,000,000
Capital Expenditure -16,701,000,000
Unlevered Free Cash Flow -8,519,000,000
Current Assets 71,131,000,000
Current Cash 26,389,000,000
Current Liabilities 54,724,000,000
Current Debt 6,944,000,000
Non-Cash Working Capital (NCWC) -3,038,000,000
Change in NCWC -4,458,000,000
EBIT -5,457,000,000
Tax Provision -3,171,000,000
Depreciation and Amortization 15,219,000,000
Capital Expenditure -18,648,000,000
Unlevered Free Cash Flow -13,344,000,000
Current Assets 87,921,000,000
Current Cash 29,763,000,000
Current Liabilities 63,615,000,000
Current Debt 6,877,000,000
Non-Cash Working Capital (NCWC) 1,420,000,000
Change in NCWC -7,765,000,000
EBIT 16,668,000,000
Tax Provision 947,000,000
Depreciation and Amortization 15,163,000,000
Capital Expenditure -22,546,000,000
Unlevered Free Cash Flow -1,668,807,272
Current Assets 97,603,000,000
Current Cash 22,987,000,000
Current Liabilities 72,812,000,000
Current Debt 7,381,000,000
Non-Cash Working Capital (NCWC) 9,185,000,000
Change in NCWC -15,068,000,000
EBIT 19,379,000,000
Tax Provision 6,463,000,000
Depreciation and Amortization 13,510,000,000
Capital Expenditure -24,520,000,000
Unlevered Free Cash Flow -10,843,352,503
Current Assets 111,676,000,000
Current Cash 19,867,000,000
Current Liabilities 77,586,000,000
Current Debt 10,030,000,000
Non-Cash Working Capital (NCWC) 24,253,000,000
Change in NCWC 15,414,000,000
EBIT 18,769,000,000
Tax Provision 6,993,000,000
Depreciation and Amortization 12,481,000,000
Capital Expenditure -23,078,000,000
Unlevered Free Cash Flow 16,607,871,604

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