Discounted Cash Flow (DCF) Analysis Levered

Virtus Convertible & Income 2024 Ta... (CBH)

$8.6

+0.05 (+0.58%)
All numbers are in Millions, Currency in USD
Stock DCF: 538.30 | 8.6 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 9.1913.1526.2544.9977.09132.09226.35387.86
Revenue (%)
Operating Cash Flow 10.2110.0510.1333.9058.0999.55170.58292.30
Operating Cash Flow (%)
Capital Expenditure --------
Capital Expenditure (%)
Free Cash Flow ---33.9058.0999.55170.58292.30

Weighted Average Cost Of Capital

Share price $ 8.6
Beta 0.533
Diluted Shares Outstanding 18.36
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.97%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.122
Total Debt 69.70
Total Equity 157.87
Total Capital 227.57
Debt Weighting 30.63
Equity Weighting 69.37
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 9.1913.1526.2544.9977.09132.09226.35387.86
Operating Cash Flow 10.2110.0510.1333.9058.0999.55170.58292.30
Capital Expenditure --------
Free Cash Flow ---33.9058.0999.55170.58292.30
WACC
PV LFCF 35.4458.0995.23156.09255.85
SUM PV LFCF 549.66

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.54
Free cash flow (t + 1) 298.15
Terminal Value 11,738.17
Present Value of Terminal Value 9,401.30

Intrinsic Value

Enterprise Value 9,950.96
Net Debt 69.55
Equity Value 9,881.41
Shares Outstanding 18.36
Equity Value Per Share 538.30