Discounted Cash Flow (DCF) Analysis Levered
ECN Capital Corp. (ECN.TO)
$2.63
-0.01 (-0.38%)
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 | 197.43 | 248.30 | 266.72 | 215.37 | 196.67 | 199.25 | 201.87 | 204.52 | 207.21 | 209.93 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -218.46 | 120.75 | -77.61 | 139.73 | -869.27 | -186.59 | -189.04 | -191.53 | -194.04 | -196.59 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | -6.21 | -2.66 | -7.97 | -42.93 | -14.46 | -14.65 | -14.84 | -15.04 | -15.24 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -218.46 | 114.54 | -80.27 | 131.76 | -912.20 | -201.05 | -203.69 | -206.37 | -209.08 | -211.82 |
Weighted Average Cost Of Capital
| Share price | $ 2.63 |
|---|---|
| Beta | 1.153 |
| Diluted Shares Outstanding | 247.51 |
| Cost of Debt | |
| Tax Rate | 61.06 |
| After-tax Cost of Debt | 1.60% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.552 |
| Total Debt | 1,008 |
| Total Equity | 650.95 |
| Total Capital | 1,658.95 |
| Debt Weighting | 60.76 |
| Equity Weighting | 39.24 |
| 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 | 197.43 | 248.30 | 266.72 | 215.37 | 196.67 | 199.25 | 201.87 | 204.52 | 207.21 | 209.93 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -218.46 | 120.75 | -77.61 | 139.73 | -869.27 | -186.59 | -189.04 | -191.53 | -194.04 | -196.59 |
| Capital Expenditure | - | -6.21 | -2.66 | -7.97 | -42.93 | -14.46 | -14.65 | -14.84 | -15.04 | -15.24 |
| Free Cash Flow | -218.46 | 114.54 | -80.27 | 131.76 | -912.20 | -201.05 | -203.69 | -206.37 | -209.08 | -211.82 |
| WACC | ||||||||||
| PV LFCF | -152.45 | -147.49 | -142.69 | -138.05 | -133.56 | |||||
| SUM PV LFCF | -899.50 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.72 |
| Free cash flow (t + 1) | -216.06 |
| Terminal Value | -7,943.40 |
| Present Value of Terminal Value | -6,307.52 |
Intrinsic Value
| Enterprise Value | -7,207.01 |
|---|---|
| Net Debt | 995.28 |
| Equity Value | -8,202.30 |
| Shares Outstanding | 247.51 |
| Equity Value Per Share | -33.14 |