Discounted Cash Flow (DCF) Analysis Levered
Eldorado Gold Corporation (EGO)
$10.36
-0.10 (-0.96%)
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 | $ 10.36 |
---|---|
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 | 9.982 |
Total Debt | 511.36 |
Total Equity | 1,883.09 |
Total Capital | 2,394.44 |
Debt Weighting | 21.36 |
Equity Weighting | 78.64 |
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 | -148.56 | -281.74 | -534.31 | -1,013.29 | -1,921.65 | |||||
SUM PV LFCF | -3,899.55 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | -36.06 |
Free cash flow (t + 1) | -209.48 |
Terminal Value | 550.39 |
Present Value of Terminal Value | 5,149.99 |
Intrinsic Value
Enterprise Value | 1,250.45 |
---|---|
Net Debt | 231.62 |
Equity Value | 1,018.83 |
Shares Outstanding | 181.76 |
Equity Value Per Share | 5.61 |