Discounted Cash Flow (DCF) Analysis Levered

Dream Unlimited Corp. (DRM.TO)

$27.55

-0.34 (-1.22%)
All numbers are in Millions, Currency in USD
Stock DCF: -6.14 | 27.55 | 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 356.96339.87580.43347.62325.92341.92358.71376.32394.80414.18
Revenue (%)
Operating Cash Flow 114.57-97.14252.38-82.5067.0229.9731.4432.9834.6036.30
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----29.9731.4432.9834.6036.30

Weighted Average Cost Of Capital

Share price $ 27.55
Beta 1.213
Diluted Shares Outstanding 44.75
Cost of Debt
Tax Rate 12.59
After-tax Cost of Debt 1.65%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.376
Total Debt 1,305.30
Total Equity 1,232.95
Total Capital 2,538.25
Debt Weighting 51.43
Equity Weighting 48.57
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 356.96339.87580.43347.62325.92341.92358.71376.32394.80414.18
Operating Cash Flow 114.57-97.14252.38-82.5067.0229.9731.4432.9834.6036.30
Capital Expenditure ----------
Free Cash Flow -----29.9731.4432.9834.6036.30
WACC
PV LFCF 28.4328.3028.1728.0427.91
SUM PV LFCF 140.85

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.40
Free cash flow (t + 1) 37.03
Terminal Value 1,089.08
Present Value of Terminal Value 837.26

Intrinsic Value

Enterprise Value 978.11
Net Debt 1,252.73
Equity Value -274.62
Shares Outstanding 44.75
Equity Value Per Share -6.14