Discounted Cash Flow (DCF) Analysis Levered

Morgan Stanley Emerging Markets Dom... (EDD)

$4.02

+0.02 (+0.50%)
All numbers are in Millions, Currency in USD
Stock DCF: -3.14 | 4.02 | 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 31.89-56.6264.94-26.046.53-5.845.22-4.664.17-3.72
Revenue (%)
Operating Cash Flow 79.7074.56111.5869.7440.65-7.536.72-6.015.37-4.80
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ------7.536.72-6.015.37-4.80

Weighted Average Cost Of Capital

Share price $ 4.02
Beta 0.788
Diluted Shares Outstanding 66.18
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1.62%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.525
Total Debt 106.33
Total Equity 266.04
Total Capital 372.37
Debt Weighting 28.55
Equity Weighting 71.45
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 31.89-56.6264.94-26.046.53-5.845.22-4.664.17-3.72
Operating Cash Flow 79.7074.56111.5869.7440.65-7.536.72-6.015.37-4.80
Capital Expenditure ----------
Free Cash Flow ------7.536.72-6.015.37-4.80
WACC
PV LFCF -5.354.52-3.823.22-2.72
SUM PV LFCF -5.51

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.84
Free cash flow (t + 1) -4.90
Terminal Value -127.48
Present Value of Terminal Value -95.98

Intrinsic Value

Enterprise Value -101.49
Net Debt 106.33
Equity Value -207.82
Shares Outstanding 66.18
Equity Value Per Share -3.14