Discounted Cash Flow (DCF) Analysis Levered

MFS High Yield Municipal Trust (CMU)

$3.155

+0.04 (+1.12%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: -7,811.60 | 3.155 | 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 10.9510.290.7910.51-27.48-80.83-237.77-699.45-2,057.57-6,052.76
Revenue (%)
Operating Cash Flow 7.256.356.046.0510.04-148.22-436.03-1,282.68-3,773.27-11,099.83
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ------148.22-436.03-1,282.68-3,773.27-11,099.83

Weighted Average Cost Of Capital

Share price $ 3.155
Beta 0.496
Diluted Shares Outstanding 28.33
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.048
Total Debt -
Total Equity 89.37
Total Capital 89.37
Debt Weighting 0.00
Equity Weighting 100.00
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 10.9510.290.7910.51-27.48-80.83-237.77-699.45-2,057.57-6,052.76
Operating Cash Flow 7.256.356.046.0510.04-148.22-436.03-1,282.68-3,773.27-11,099.83
Capital Expenditure ----------
Free Cash Flow ------148.22-436.03-1,282.68-3,773.27-11,099.83
WACC
PV LFCF -139.77-387.70-1,075.44-2,983.15-8,274.91
SUM PV LFCF -12,860.96

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.05
Free cash flow (t + 1) -11,321.83
Terminal Value -279,551.33
Present Value of Terminal Value -208,405.03

Intrinsic Value

Enterprise Value -221,265.99
Net Debt -
Equity Value -221,265.99
Shares Outstanding 28.33
Equity Value Per Share -7,811.60