Discounted Cash Flow (DCF) Analysis Levered
Dorchester Minerals, L.P. (DMLP)
$29.69
+0.50 (+1.71%)
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 | 73.28 | 78.80 | 46.93 | 93.42 | 170.80 | 234.42 | 321.73 | 441.57 | 606.05 | 831.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 62.52 | 66.11 | 39.41 | 70.30 | 147.05 | 194.35 | 266.74 | 366.10 | 502.46 | 689.62 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.06 | -0.06 | -0.04 | -0.08 | -0.14 | -0.19 | -0.26 | -0.36 | -0.50 | -0.68 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 62.46 | 66.04 | 39.37 | 70.23 | 146.91 | 194.16 | 266.48 | 365.74 | 501.97 | 688.94 |
Weighted Average Cost Of Capital
| Share price | $ 29.69 |
|---|---|
| Beta | 1.175 |
| Diluted Shares Outstanding | 37.62 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.235 |
| Total Debt | 1.59 |
| Total Equity | 1,117.06 |
| Total Capital | 1,118.65 |
| Debt Weighting | 0.14 |
| Equity Weighting | 99.86 |
| 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 | 73.28 | 78.80 | 46.93 | 93.42 | 170.80 | 234.42 | 321.73 | 441.57 | 606.05 | 831.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 62.52 | 66.11 | 39.41 | 70.30 | 147.05 | 194.35 | 266.74 | 366.10 | 502.46 | 689.62 |
| Capital Expenditure | -0.06 | -0.06 | -0.04 | -0.08 | -0.14 | -0.19 | -0.26 | -0.36 | -0.50 | -0.68 |
| Free Cash Flow | 62.46 | 66.04 | 39.37 | 70.23 | 146.91 | 194.16 | 266.48 | 365.74 | 501.97 | 688.94 |
| WACC | ||||||||||
| PV LFCF | - | - | - | - | - | |||||
| SUM PV LFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | 702.72 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -39.16 |
| Equity Value | - |
| Shares Outstanding | 37.62 |
| Equity Value Per Share | - |