Discounted Cash Flow (DCF) Analysis Levered
Eldorado Gold Corporation (EGO)
$9.83
+0.04 (+0.41%)
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 | 459.02 | 617.82 | 1,026.69 | 943.47 | 871.46 | 1,056.73 | 1,281.38 | 1,553.80 | 1,884.12 | 2,284.68 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 66.32 | 165.83 | 425.61 | 362.37 | 211 | 307.22 | 372.53 | 451.73 | 547.76 | 664.21 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -312.08 | -219.94 | -206.38 | -282.09 | -319.99 | -402.21 | -487.71 | -591.40 | -717.13 | -869.58 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -245.76 | -54.12 | 219.23 | 80.28 | -108.99 | -94.99 | -115.18 | -139.67 | -169.36 | -205.37 |
Weighted Average Cost Of Capital
Share price | $ 9.83 |
---|---|
Beta | 1.375 |
Diluted Shares Outstanding | 181.76 |
Cost of Debt | |
Tax Rate | 3,084.35 |
After-tax Cost of Debt | -205.62% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.868 |
Total Debt | 511.36 |
Total Equity | 1,786.75 |
Total Capital | 2,298.10 |
Debt Weighting | 22.25 |
Equity Weighting | 77.75 |
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 | 459.02 | 617.82 | 1,026.69 | 943.47 | 871.46 | 1,056.73 | 1,281.38 | 1,553.80 | 1,884.12 | 2,284.68 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 66.32 | 165.83 | 425.61 | 362.37 | 211 | 307.22 | 372.53 | 451.73 | 547.76 | 664.21 |
Capital Expenditure | -312.08 | -219.94 | -206.38 | -282.09 | -319.99 | -402.21 | -487.71 | -591.40 | -717.13 | -869.58 |
Free Cash Flow | -245.76 | -54.12 | 219.23 | 80.28 | -108.99 | -94.99 | -115.18 | -139.67 | -169.36 | -205.37 |
WACC | ||||||||||
PV LFCF | -400.11 | -783.55 | -1,534.45 | -3,004.95 | -5,884.67 | |||||
SUM PV LFCF | -4,450.51 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | -38.08 |
Free cash flow (t + 1) | -209.48 |
Terminal Value | 522.65 |
Present Value of Terminal Value | 5,741.91 |
Intrinsic Value
Enterprise Value | 1,291.40 |
---|---|
Net Debt | 231.62 |
Equity Value | 1,059.78 |
Shares Outstanding | 181.76 |
Equity Value Per Share | 5.83 |