Discounted Cash Flow (DCF) Analysis Levered

BlackRock New York Municipal Income... (BNY)

$10.54

+0.05 (+0.48%)
All numbers are in Millions, Currency in USD
Stock DCF: 22.37 | 10.54 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 12.6512.4415.1620.1619.5922.0524.8327.9631.4735.44
Revenue (%)
Operating Cash Flow 3.490.0520.2443.4553.8228.7532.3736.4441.0346.19
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----28.7532.3736.4441.0346.19

Weighted Average Cost Of Capital

Share price $ 10.54
Beta 0.517
Diluted Shares Outstanding 24.32
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 16,364.06%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.743
Total Debt 0.04
Total Equity 256.31
Total Capital 256.36
Debt Weighting 0.02
Equity Weighting 99.98
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 12.6512.4415.1620.1619.5922.0524.8327.9631.4735.44
Operating Cash Flow 3.490.0520.2443.4553.8228.7532.3736.4441.0346.19
Capital Expenditure ----------
Free Cash Flow -----28.7532.3736.4441.0346.19
WACC
PV LFCF 26.2727.0327.8228.6229.45
SUM PV LFCF 139.20

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.42
Free cash flow (t + 1) 47.12
Terminal Value 635.02
Present Value of Terminal Value 404.86

Intrinsic Value

Enterprise Value 544.05
Net Debt 0.04
Equity Value 544.01
Shares Outstanding 24.32
Equity Value Per Share 22.37