Discounted Cash Flow (DCF) Analysis Levered

BlackRock Health Sciences Trust (BME)

$44.73

+1.08 (+2.48%)
All numbers are in Millions, Currency in USD
Stock DCF: -78.62 | 44.73 | overvalue

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 60.7322.8980.2980.0959.6683.93118.08166.12233.70328.77
Revenue (%)
Operating Cash Flow -1.172.05-14.10-19.35-21.56-11.89-16.73-23.53-33.10-46.57
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ------11.89-16.73-23.53-33.10-46.57

Weighted Average Cost Of Capital

Share price $ 44.73
Beta 0.740
Diluted Shares Outstanding 11.58
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.341
Total Debt -
Total Equity 518.01
Total Capital 518.01
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 60.7322.8980.2980.0959.6683.93118.08166.12233.70328.77
Operating Cash Flow -1.172.05-14.10-19.35-21.56-11.89-16.73-23.53-33.10-46.57
Capital Expenditure ----------
Free Cash Flow ------11.89-16.73-23.53-33.10-46.57
WACC
PV LFCF -11.18-14.79-19.57-25.89-34.25
SUM PV LFCF -105.67

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.34
Free cash flow (t + 1) -47.50
Terminal Value -1,094.48
Present Value of Terminal Value -804.87

Intrinsic Value

Enterprise Value -910.54
Net Debt -0
Equity Value -910.53
Shares Outstanding 11.58
Equity Value Per Share -78.62