Discounted Cash Flow (DCF) Analysis Levered

Anglo Pacific Group plc (APY.TO)

$2.21

-0.01 (-0.45%)
All numbers are in Millions, Currency in USD
Stock DCF: 2.55 | 2.21 | 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 $ 2.21
Beta 0.797
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 7.727
Total Debt 112
Total Equity 459.46
Total Capital 571.46
Debt Weighting 19.60
Equity Weighting 80.40
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 9.4812.3015.9620.7126.87
SUM PV LFCF 85.32

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.13
Free cash flow (t + 1) 38.68
Terminal Value 753.95
Present Value of Terminal Value 534.31

Intrinsic Value

Enterprise Value 619.63
Net Debt 90.01
Equity Value 529.62
Shares Outstanding 207.90
Equity Value Per Share 2.55