Discounted Cash Flow (DCF) Analysis Levered

BNY Mellon Strategic Municipal Bond... (DSM)

$5.7

-0.04 (-0.70%)
All numbers are in Millions, Currency in USD
Stock DCF: 183,604.97 | 5.7 | undervalue

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 32.192.7742.4316.5426.16113.66493.792,145.299,320.3140,492.47
Revenue (%)
Operating Cash Flow 18.0163.3624.7320.9930.79601.622,613.7711,355.6449,335.01214,337.88
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----601.622,613.7711,355.6449,335.01214,337.88

Weighted Average Cost Of Capital

Share price $ 5.7
Beta 0.391
Diluted Shares Outstanding 47.64
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.76%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.810
Total Debt 138.70
Total Equity 271.52
Total Capital 410.23
Debt Weighting 33.81
Equity Weighting 66.19
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 32.192.7742.4316.5426.16113.66493.792,145.299,320.3140,492.47
Operating Cash Flow 18.0163.3624.7320.9930.79601.622,613.7711,355.6449,335.01214,337.88
Capital Expenditure ----------
Free Cash Flow -----601.622,613.7711,355.6449,335.01214,337.88
WACC
PV LFCF 577.932,411.9410,066.0542,009.96175,325.58
SUM PV LFCF 230,391.46

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.10
Free cash flow (t + 1) 218,624.64
Terminal Value 10,410,697.02
Present Value of Terminal Value 8,515,813.86

Intrinsic Value

Enterprise Value 8,746,205.32
Net Debt 138.66
Equity Value 8,746,066.67
Shares Outstanding 47.64
Equity Value Per Share 183,604.97