Discounted Cash Flow (DCF) Analysis Levered
Coeur Mining, Inc. (CDE)
$2.2
-0.01 (-0.45%)
All numbers are in Millions, Currency in USD
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 | 625.90 | 711.50 | 785.46 | 832.83 | 785.64 | 833.63 | 884.55 | 938.59 | 995.92 | 1,056.76 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 17.42 | 91.88 | 148.71 | 110.48 | 25.62 | 85.29 | 90.50 | 96.03 | 101.89 | 108.12 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -140.79 | -99.77 | -99.28 | -309.78 | -352.35 | -218.75 | -232.11 | -246.29 | -261.33 | -277.30 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -123.37 | -7.89 | 49.43 | -199.30 | -326.74 | -133.46 | -141.61 | -150.26 | -159.44 | -169.18 |
Weighted Average Cost Of Capital
| Share price | $ 2.2 |
|---|---|
| Beta | 1.607 |
| Diluted Shares Outstanding | 275.20 |
| Cost of Debt | |
| Tax Rate | -23.10 |
| After-tax Cost of Debt | 4.62% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.127 |
| Total Debt | 515.93 |
| Total Equity | 605.44 |
| Total Capital | 1,121.37 |
| Debt Weighting | 46.01 |
| Equity Weighting | 53.99 |
| 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 | 625.90 | 711.50 | 785.46 | 832.83 | 785.64 | 833.63 | 884.55 | 938.59 | 995.92 | 1,056.76 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 17.42 | 91.88 | 148.71 | 110.48 | 25.62 | 85.29 | 90.50 | 96.03 | 101.89 | 108.12 |
| Capital Expenditure | -140.79 | -99.77 | -99.28 | -309.78 | -352.35 | -218.75 | -232.11 | -246.29 | -261.33 | -277.30 |
| Free Cash Flow | -123.37 | -7.89 | 49.43 | -199.30 | -326.74 | -133.46 | -141.61 | -150.26 | -159.44 | -169.18 |
| WACC | ||||||||||
| PV LFCF | -122.81 | -119.91 | -117.09 | -114.33 | -111.63 | |||||
| SUM PV LFCF | -585.78 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.67 |
| Free cash flow (t + 1) | -172.56 |
| Terminal Value | -2,587.14 |
| Present Value of Terminal Value | -1,707.15 |
Intrinsic Value
| Enterprise Value | -2,292.92 |
|---|---|
| Net Debt | 454.47 |
| Equity Value | -2,747.39 |
| Shares Outstanding | 275.20 |
| Equity Value Per Share | -9.98 |