Discounted Cash Flow (DCF) Analysis Levered

BRT Apartments Corp. (BRT)

$15.89

-0.14 (-0.87%)
All numbers are in Millions, Currency in USD
Stock DCF: -11.59 | 15.89 | overvalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 119.6427.7628.1032.0670.5380.8492.67106.23121.76139.58
Revenue (%)
Operating Cash Flow 38.598.65-1.75-0.5315.0312.4214.2416.3218.7121.44
Operating Cash Flow (%)
Capital Expenditure -16.77-1.58-0.89-1.31-6.30-5.80-6.65-7.62-8.74-10.01
Capital Expenditure (%)
Free Cash Flow 21.827.07-2.64-1.848.736.627.598.709.9711.43

Weighted Average Cost Of Capital

Share price $ 15.89
Beta 1.185
Diluted Shares Outstanding 17.85
Cost of Debt
Tax Rate 1.90
After-tax Cost of Debt 4.20%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.878
Total Debt 459.42
Total Equity 283.68
Total Capital 743.10
Debt Weighting 61.82
Equity Weighting 38.18
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 119.6427.7628.1032.0670.5380.8492.67106.23121.76139.58
Operating Cash Flow 38.598.65-1.75-0.5315.0312.4214.2416.3218.7121.44
Capital Expenditure -16.77-1.58-0.89-1.31-6.30-5.80-6.65-7.62-8.74-10.01
Free Cash Flow 21.827.07-2.64-1.848.736.627.598.709.9711.43
WACC
PV LFCF 6.226.717.237.798.39
SUM PV LFCF 36.34

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.37
Free cash flow (t + 1) 11.66
Terminal Value 266.78
Present Value of Terminal Value 195.91

Intrinsic Value

Enterprise Value 232.25
Net Debt 439.14
Equity Value -206.89
Shares Outstanding 17.85
Equity Value Per Share -11.59