Discounted Cash Flow (DCF) Analysis Levered

Calamos Dynamic Convertible and Inc... (CCD)

$22.15

-0.16 (-0.72%)
All numbers are in Millions, Currency in USD
Stock DCF: 5,759.71 | 22.15 | 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 85.0713.1958.84173.43221.13488.601,079.632,385.575,271.1911,647.32
Revenue (%)
Operating Cash Flow 11.3529.7351.1828.22-7.70330.79730.921,615.063,568.677,885.39
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----330.79730.921,615.063,568.677,885.39

Weighted Average Cost Of Capital

Share price $ 22.15
Beta 1.104
Diluted Shares Outstanding 24.55
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1.63%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.902
Total Debt 270
Total Equity 543.80
Total Capital 813.80
Debt Weighting 33.18
Equity Weighting 66.82
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 85.0713.1958.84173.43221.13488.601,079.632,385.575,271.1911,647.32
Operating Cash Flow 11.3529.7351.1828.22-7.70330.79730.921,615.063,568.677,885.39
Capital Expenditure ----------
Free Cash Flow -----330.79730.921,615.063,568.677,885.39
WACC
PV LFCF 310.63644.551,337.402,775.055,758.10
SUM PV LFCF 10,825.73

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.49
Free cash flow (t + 1) 8,043.10
Terminal Value 179,133.68
Present Value of Terminal Value 130,807.64

Intrinsic Value

Enterprise Value 141,633.37
Net Debt 228.71
Equity Value 141,404.66
Shares Outstanding 24.55
Equity Value Per Share 5,759.71