Discounted Cash Flow (DCF) Analysis Levered
Arlington Asset Investment Corp. (AAIC)
$3.02
0.00 (0.00%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 75.61 | -77.69 | 28.76 | -55.10 | 25.53 | -24.11 | 22.76 | -21.50 | 20.30 | -19.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 88.03 | 63.75 | 46.56 | 25.91 | 9.53 | -9 | 8.50 | -8.02 | 7.58 | -7.15 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | - | - | - | - | - | -9 | 8.50 | -8.02 | 7.58 | -7.15 |
Weighted Average Cost Of Capital
| Share price | $ 3.02 |
|---|---|
| Beta | 1.486 |
| Diluted Shares Outstanding | 32.31 |
| Cost of Debt | |
| Tax Rate | -19.70 |
| After-tax Cost of Debt | 1,615.35% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.655 |
| Total Debt | 0.51 |
| Total Equity | 97.58 |
| Total Capital | 98.09 |
| Debt Weighting | 0.52 |
| Equity Weighting | 99.48 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 75.61 | -77.69 | 28.76 | -55.10 | 25.53 | -24.11 | 22.76 | -21.50 | 20.30 | -19.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 88.03 | 63.75 | 46.56 | 25.91 | 9.53 | -9 | 8.50 | -8.02 | 7.58 | -7.15 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | -9 | 8.50 | -8.02 | 7.58 | -7.15 |
| WACC | ||||||||||
| PV LFCF | -7.56 | 6 | -4.76 | 3.78 | -3 | |||||
| SUM PV LFCF | -5.54 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 18.97 |
| Free cash flow (t + 1) | -7.30 |
| Terminal Value | -42.99 |
| Present Value of Terminal Value | -18.04 |
Intrinsic Value
| Enterprise Value | -23.58 |
|---|---|
| Net Debt | -20.04 |
| Equity Value | -3.55 |
| Shares Outstanding | 32.31 |
| Equity Value Per Share | -0.11 |