Discounted Cash Flow (DCF) Analysis Levered

Anglo Pacific Group plc (APY.TO)

$2.45

+0.01 (+0.41%)
All numbers are in Millions, Currency in USD
Stock DCF: 3.22 | 2.45 | undervalue

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 37.3846.1055.7334.0185.30118.57164.82229.11318.49442.72
Revenue (%)
Operating Cash Flow 34.6336.9147.0917.5155.7888.70123.31171.41238.27331.21
Operating Cash Flow (%)
Capital Expenditure -1.13-0-42.29-2.98-207.74-78.55-109.19-151.78-210.99-293.30
Capital Expenditure (%)
Free Cash Flow 33.5036.914.7914.52-151.9610.1614.1219.6227.2837.92

Weighted Average Cost Of Capital

Share price $ 2.45
Beta 0.811
Diluted Shares Outstanding 207.90
Cost of Debt
Tax Rate 31.41
After-tax Cost of Debt 4.66%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.595
Total Debt 112
Total Equity 509.36
Total Capital 621.36
Debt Weighting 18.03
Equity Weighting 81.97
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 37.3846.1055.7334.0185.30118.57164.82229.11318.49442.72
Operating Cash Flow 34.6336.9147.0917.5155.7888.70123.31171.41238.27331.21
Capital Expenditure -1.13-0-42.29-2.98-207.74-78.55-109.19-151.78-210.99-293.30
Free Cash Flow 33.5036.914.7914.52-151.9610.1614.1219.6227.2837.92
WACC
PV LFCF 9.5612.5016.3621.4028
SUM PV LFCF 87.83

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.25
Free cash flow (t + 1) 38.68
Terminal Value 910.07
Present Value of Terminal Value 672.09

Intrinsic Value

Enterprise Value 759.92
Net Debt 90.01
Equity Value 669.92
Shares Outstanding 207.90
Equity Value Per Share 3.22