Discounted Cash Flow (DCF) Analysis Levered

Bancroft Fund Ltd. (BCV)

$17.07

+0.35 (+2.09%)
All numbers are in Millions, Currency in USD
Stock DCF: 974.93 | 17.07 | 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 20.597.7624.2927.5142.8166.30102.68159.03246.29381.44
Revenue (%)
Operating Cash Flow 20.117.2923.7226.5341.2863.9399.01153.34237.48367.79
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ---26.5341.2863.9399.01153.34237.48367.79

Weighted Average Cost Of Capital

Share price $ 17.07
Beta 0.939
Diluted Shares Outstanding 5
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 60.09%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.082
Total Debt 0
Total Equity 85.31
Total Capital 85.32
Debt Weighting 0.00
Equity Weighting 100.00
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 20.597.7624.2927.5142.8166.30102.68159.03246.29381.44
Operating Cash Flow 20.117.2923.7226.5341.2863.9399.01153.34237.48367.79
Capital Expenditure ----------
Free Cash Flow ---26.5341.2863.9399.01153.34237.48367.79
WACC
PV LFCF 59.1584.76121.46174.04249.39
SUM PV LFCF 688.80

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.08
Free cash flow (t + 1) 375.15
Terminal Value 6,170.24
Present Value of Terminal Value 4,183.84

Intrinsic Value

Enterprise Value 4,872.64
Net Debt 0
Equity Value 4,872.64
Shares Outstanding 5
Equity Value Per Share 974.93