Discounted Cash Flow (DCF) Analysis Levered
Crombie Real Estate Investment Trus... (CRR-UN.TO)
$12.44
-0.14 (-1.11%)
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 | 414.65 | 398.74 | 388.73 | 408.89 | 419.59 | 421.12 | 422.65 | 424.19 | 425.73 | 427.28 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 54.27 | -35.87 | -73.90 | 224.84 | 233.55 | 80.63 | 80.92 | 81.22 | 81.51 | 81.81 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -4.25 | -1.52 | -1.40 | -0.19 | -0.26 | -1.58 | -1.58 | -1.59 | -1.60 | -1.60 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 50.02 | -37.39 | -75.30 | 224.65 | 233.29 | 79.05 | 79.34 | 79.63 | 79.92 | 80.21 |
Weighted Average Cost Of Capital
Share price | $ 12.44 |
---|---|
Beta | 0.861 |
Diluted Shares Outstanding | 176.32 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 4.02% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.689 |
Total Debt | 2,080.97 |
Total Equity | 2,193.48 |
Total Capital | 4,274.46 |
Debt Weighting | 48.68 |
Equity Weighting | 51.32 |
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 | 414.65 | 398.74 | 388.73 | 408.89 | 419.59 | 421.12 | 422.65 | 424.19 | 425.73 | 427.28 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 54.27 | -35.87 | -73.90 | 224.84 | 233.55 | 80.63 | 80.92 | 81.22 | 81.51 | 81.81 |
Capital Expenditure | -4.25 | -1.52 | -1.40 | -0.19 | -0.26 | -1.58 | -1.58 | -1.59 | -1.60 | -1.60 |
Free Cash Flow | 50.02 | -37.39 | -75.30 | 224.65 | 233.29 | 79.05 | 79.34 | 79.63 | 79.92 | 80.21 |
WACC | ||||||||||
PV LFCF | 74.28 | 70.05 | 66.07 | 62.31 | 58.76 | |||||
SUM PV LFCF | 331.48 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.42 |
Free cash flow (t + 1) | 81.81 |
Terminal Value | 1,850.95 |
Present Value of Terminal Value | 1,356.06 |
Intrinsic Value
Enterprise Value | 1,687.53 |
---|---|
Net Debt | 2,074.86 |
Equity Value | -387.32 |
Shares Outstanding | 176.32 |
Equity Value Per Share | -2.20 |