Discounted Cash Flow (DCF) Analysis Levered

MFS High Income Municipal Trust (CXE)

$3.25

+0.01 (+0.31%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: -34,334.38 | 3.25 | 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 4.5716.250.8612.66-34.22-133.33-519.47-2,023.97-7,885.89-30,725.34
Revenue (%)
Operating Cash Flow 9.067.877.627.8917.39-304.50-1,186.40-4,622.51-18,010.41-70,172.91
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ------304.50-1,186.40-4,622.51-18,010.41-70,172.91

Weighted Average Cost Of Capital

Share price $ 3.25
Beta 0.562
Diluted Shares Outstanding 31.08
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.092
Total Debt -
Total Equity 101
Total Capital 101
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 4.5716.250.8612.66-34.22-133.33-519.47-2,023.97-7,885.89-30,725.34
Operating Cash Flow 9.067.877.627.8917.39-304.50-1,186.40-4,622.51-18,010.41-70,172.91
Capital Expenditure ----------
Free Cash Flow ------304.50-1,186.40-4,622.51-18,010.41-70,172.91
WACC
PV LFCF -284.34-1,034.51-3,763.84-13,693.92-49,822.43
SUM PV LFCF -68,599.04

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.09
Free cash flow (t + 1) -71,576.37
Terminal Value -1,406,215.51
Present Value of Terminal Value -998,406.25

Intrinsic Value

Enterprise Value -1,067,005.29
Net Debt -
Equity Value -1,067,005.29
Shares Outstanding 31.08
Equity Value Per Share -34,334.38