Discounted Cash Flow (DCF) Analysis Levered

Eaton Vance Municipal Bond Fund (EIM)

$10.405

+0.03 (+0.24%)
All numbers are in Millions, Currency in USD
Stock DCF: -20.09 | 10.405 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 121.2547.8236.11-183.188.24-8.188.11-8.057.98-7.92
Revenue (%)
Operating Cash Flow 143.75209.76112.51116.05277.10-68.1567.61-67.0766.53-66
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ------68.1567.61-67.0766.53-66

Weighted Average Cost Of Capital

Share price $ 10.405
Beta 0.351
Diluted Shares Outstanding 71.15
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 4.81%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.816
Total Debt 356.64
Total Equity 740.35
Total Capital 1,096.99
Debt Weighting 32.51
Equity Weighting 67.49
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 121.2547.8236.11-183.188.24-8.188.11-8.057.98-7.92
Operating Cash Flow 143.75209.76112.51116.05277.10-68.1567.61-67.0766.53-66
Capital Expenditure ----------
Free Cash Flow ------68.1567.61-67.0766.53-66
WACC
PV LFCF -64.6060.75-57.1353.73-50.52
SUM PV LFCF -57.78

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.49
Free cash flow (t + 1) -66.33
Terminal Value -1,329.25
Present Value of Terminal Value -1,017.54

Intrinsic Value

Enterprise Value -1,075.32
Net Debt 354.39
Equity Value -1,429.71
Shares Outstanding 71.15
Equity Value Per Share -20.09