Discounted Cash Flow (DCF) Analysis Levered
Capital Product Partners L.P. (CPLP)
$13.32
+0.32 (+2.46%)
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 | 279.25 | 108.37 | 140.87 | 184.67 | 299.07 | 345.30 | 398.68 | 460.32 | 531.48 | 613.64 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 97.89 | 54.18 | 80.68 | 111.16 | 172.57 | 179.71 | 207.50 | 239.57 | 276.61 | 319.37 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -44.27 | -6.52 | -185.25 | -368.10 | -141.23 | -276.19 | -318.89 | -368.19 | -425.11 | -490.82 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 53.62 | 47.66 | -104.57 | -256.93 | 31.33 | -96.48 | -111.40 | -128.62 | -148.50 | -171.46 |
Weighted Average Cost Of Capital
| Share price | $ 13.32 |
|---|---|
| Beta | 0.887 |
| Diluted Shares Outstanding | 19.33 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 4.30% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.892 |
| Total Debt | 1,289.08 |
| Total Equity | 257.41 |
| Total Capital | 1,546.49 |
| Debt Weighting | 83.36 |
| Equity Weighting | 16.64 |
| 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 | 279.25 | 108.37 | 140.87 | 184.67 | 299.07 | 345.30 | 398.68 | 460.32 | 531.48 | 613.64 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 97.89 | 54.18 | 80.68 | 111.16 | 172.57 | 179.71 | 207.50 | 239.57 | 276.61 | 319.37 |
| Capital Expenditure | -44.27 | -6.52 | -185.25 | -368.10 | -141.23 | -276.19 | -318.89 | -368.19 | -425.11 | -490.82 |
| Free Cash Flow | 53.62 | 47.66 | -104.57 | -256.93 | 31.33 | -96.48 | -111.40 | -128.62 | -148.50 | -171.46 |
| WACC | ||||||||||
| PV LFCF | -91.97 | -101.23 | -111.42 | -122.64 | -134.98 | |||||
| SUM PV LFCF | -562.25 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.90 |
| Free cash flow (t + 1) | -174.88 |
| Terminal Value | -6,030.50 |
| Present Value of Terminal Value | -4,747.62 |
Intrinsic Value
| Enterprise Value | -5,309.87 |
|---|---|
| Net Debt | 1,144.44 |
| Equity Value | -6,454.31 |
| Shares Outstanding | 19.33 |
| Equity Value Per Share | -333.99 |