Discounted Cash Flow (DCF) Analysis Levered

Delaware Enhanced Global Dividend a... (DEX)

$7.73

+0.09 (+1.18%)
All numbers are in Millions, Currency in USD
Stock DCF: 7.70 | 7.73 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 36.90-17.5316.382.8312.369.687.585.944.653.64
Revenue (%)
Operating Cash Flow 10.5366.4025.9525.337.7814.8411.629.107.125.58
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----14.8411.629.107.125.58

Weighted Average Cost Of Capital

Share price $ 7.73
Beta 1.104
Diluted Shares Outstanding 12.22
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.94%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.916
Total Debt 54
Total Equity 94.45
Total Capital 148.45
Debt Weighting 36.38
Equity Weighting 63.62
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 36.90-17.5316.382.8312.369.687.585.944.653.64
Operating Cash Flow 10.5366.4025.9525.337.7814.8411.629.107.125.58
Capital Expenditure ----------
Free Cash Flow -----14.8411.629.107.125.58
WACC
PV LFCF 13.9910.347.645.644.17
SUM PV LFCF 41.78

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.01
Free cash flow (t + 1) 5.69
Terminal Value 141.90
Present Value of Terminal Value 105.98

Intrinsic Value

Enterprise Value 147.76
Net Debt 53.69
Equity Value 94.07
Shares Outstanding 12.22
Equity Value Per Share 7.70