Discounted Cash Flow (DCF) Analysis Levered

BlackRock Capital Investment Corpor... (BKCC)

$3.595

+0.17 (+5.12%)
All numbers are in Millions, Currency in USD
Stock DCF: 6,751.15 | 3.595 | 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 20.21-10.95-7.76-10471.31229.61739.372,380.837,666.4824,686.72
Revenue (%)
Operating Cash Flow 198.9282.04-76.78170.64-0.56486.571,566.795,045.2116,24652,313.47
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----486.571,566.795,045.2116,24652,313.47

Weighted Average Cost Of Capital

Share price $ 3.595
Beta 1.419
Diluted Shares Outstanding 86.80
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.90%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.317
Total Debt 196.88
Total Equity 312.03
Total Capital 508.91
Debt Weighting 38.69
Equity Weighting 61.31
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 20.21-10.95-7.76-10471.31229.61739.372,380.837,666.4824,686.72
Operating Cash Flow 198.9282.04-76.78170.64-0.56486.571,566.795,045.2116,24652,313.47
Capital Expenditure ----------
Free Cash Flow -----486.571,566.795,045.2116,24652,313.47
WACC
PV LFCF 4481,328.233,937.9511,675.2834,615.01
SUM PV LFCF 52,004.46

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.61
Free cash flow (t + 1) 53,359.74
Terminal Value 807,257.81
Present Value of Terminal Value 534,149.94

Intrinsic Value

Enterprise Value 586,154.40
Net Debt 184.13
Equity Value 585,970.28
Shares Outstanding 86.80
Equity Value Per Share 6,751.15