Discounted Cash Flow (DCF) Analysis Levered
Crombie Real Estate Investment Trus... (CRR-UN.TO)
$14.41
-0.05 (-0.35%)
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 | -122.43 | -154.03 | -44.09 | -0.19 | -0.26 | -67.05 | -67.29 | -67.53 | -67.78 | -68.03 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -68.16 | -189.90 | -117.98 | 224.65 | 233.29 | 13.58 | 13.63 | 13.68 | 13.73 | 13.78 |
Weighted Average Cost Of Capital
Share price | $ 14.41 |
---|---|
Beta | 0.855 |
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 | 7.767 |
Total Debt | 2,080.97 |
Total Equity | 2,540.84 |
Total Capital | 4,621.82 |
Debt Weighting | 45.03 |
Equity Weighting | 54.97 |
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 | -122.43 | -154.03 | -44.09 | -0.19 | -0.26 | -67.05 | -67.29 | -67.53 | -67.78 | -68.03 |
Free Cash Flow | -68.16 | -189.90 | -117.98 | 224.65 | 233.29 | 13.58 | 13.63 | 13.68 | 13.73 | 13.78 |
WACC | ||||||||||
PV LFCF | 12.80 | 12.11 | 11.46 | 10.84 | 10.26 | |||||
SUM PV LFCF | 57.49 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.08 |
Free cash flow (t + 1) | 14.06 |
Terminal Value | 344.55 |
Present Value of Terminal Value | 256.50 |
Intrinsic Value
Enterprise Value | 313.98 |
---|---|
Net Debt | 2,075.09 |
Equity Value | -1,761.10 |
Shares Outstanding | 176.32 |
Equity Value Per Share | -9.99 |