Discounted Cash Flow (DCF) Analysis Levered
Dundee Corporation (DC-A.TO)
$1.15
-0.01 (-0.86%)
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 | 154.69 | 29.27 | 32.42 | 18.45 | 8.65 | 5.05 | 2.95 | 1.72 | 1 | 0.59 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -44.82 | -37.61 | -21.25 | -10.67 | -20.91 | -5.28 | -3.08 | -1.80 | -1.05 | -0.61 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | 28 | -0.25 | 2.80 | 1.59 | 0.75 | 0.44 | 0.25 | 0.15 | 0.09 | 0.05 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -16.83 | -37.86 | -18.46 | -9.07 | -20.17 | -4.84 | -2.83 | -1.65 | -0.96 | -0.56 |
Weighted Average Cost Of Capital
| Share price | $ 1.15 |
|---|---|
| Beta | 1.415 |
| Diluted Shares Outstanding | 91.55 |
| Cost of Debt | |
| Tax Rate | 16.26 |
| After-tax Cost of Debt | 9.91% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.413 |
| Total Debt | 8.67 |
| Total Equity | 105.28 |
| Total Capital | 113.95 |
| Debt Weighting | 7.61 |
| Equity Weighting | 92.39 |
| 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 | 154.69 | 29.27 | 32.42 | 18.45 | 8.65 | 5.05 | 2.95 | 1.72 | 1 | 0.59 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -44.82 | -37.61 | -21.25 | -10.67 | -20.91 | -5.28 | -3.08 | -1.80 | -1.05 | -0.61 |
| Capital Expenditure | 28 | -0.25 | 2.80 | 1.59 | 0.75 | 0.44 | 0.25 | 0.15 | 0.09 | 0.05 |
| Free Cash Flow | -16.83 | -37.86 | -18.46 | -9.07 | -20.17 | -4.84 | -2.83 | -1.65 | -0.96 | -0.56 |
| WACC | ||||||||||
| PV LFCF | -4.35 | -2.28 | -1.20 | -0.63 | -0.33 | |||||
| SUM PV LFCF | -8.79 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.30 |
| Free cash flow (t + 1) | -0.57 |
| Terminal Value | -6.17 |
| Present Value of Terminal Value | -3.61 |
Intrinsic Value
| Enterprise Value | -12.40 |
|---|---|
| Net Debt | -38.51 |
| Equity Value | 26.11 |
| Shares Outstanding | 91.55 |
| Equity Value Per Share | 0.29 |