Discounted Cash Flow (DCF) Analysis Levered
ClearBridge MLP and Midstream Total... (CTR)
$30.47
-0.78 (-2.50%)
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 | -11.73 | -23.62 | -178.36 | 82.55 | 85.71 | 217.31 | 550.97 | 1,396.91 | 3,541.68 | 8,979.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 45.36 | 68.29 | 125.33 | -5.12 | -6.52 | -330.37 | -837.61 | -2,123.66 | -5,384.26 | -13,651.10 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | - | - | - | - | - | -330.37 | -837.61 | -2,123.66 | -5,384.26 | -13,651.10 |
Weighted Average Cost Of Capital
| Share price | $ 30.47 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 7.05 |
| Cost of Debt | |
| Tax Rate | 5.43 |
| After-tax Cost of Debt | 2.72% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.802 |
| Total Debt | 82.76 |
| Total Equity | 214.85 |
| Total Capital | 297.61 |
| Debt Weighting | 27.81 |
| Equity Weighting | 72.19 |
| 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 | -11.73 | -23.62 | -178.36 | 82.55 | 85.71 | 217.31 | 550.97 | 1,396.91 | 3,541.68 | 8,979.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 45.36 | 68.29 | 125.33 | -5.12 | -6.52 | -330.37 | -837.61 | -2,123.66 | -5,384.26 | -13,651.10 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | -330.37 | -837.61 | -2,123.66 | -5,384.26 | -13,651.10 |
| WACC | ||||||||||
| PV LFCF | -316.99 | -771.15 | -1,875.99 | -4,563.75 | -11,102.28 | |||||
| SUM PV LFCF | -18,630.18 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.22 |
| Free cash flow (t + 1) | -13,924.12 |
| Terminal Value | -627,212.60 |
| Present Value of Terminal Value | -510,104.83 |
Intrinsic Value
| Enterprise Value | -528,735 |
|---|---|
| Net Debt | 82.76 |
| Equity Value | -528,817.76 |
| Shares Outstanding | 7.05 |
| Equity Value Per Share | -74,996.06 |