Discounted Cash Flow (DCF) Analysis Levered

Eaton Vance New York Municipal Bond... (ENX)

$9.89

-0.02 (-0.20%)
All numbers are in Millions, Currency in USD
Stock DCF: -9.26 | 9.89 | 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 22.364.759.88-53.083.02-2.371.86-1.461.14-0.90
Revenue (%)
Operating Cash Flow 22.5913.2531.21-0.2448.41-10.898.54-6.705.26-4.13
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ------10.898.54-6.705.26-4.13

Weighted Average Cost Of Capital

Share price $ 9.89
Beta 0.539
Diluted Shares Outstanding 17.96
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.12%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.817
Total Debt 86.24
Total Equity 177.64
Total Capital 263.88
Debt Weighting 32.68
Equity Weighting 67.32
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 22.364.759.88-53.083.02-2.371.86-1.461.14-0.90
Operating Cash Flow 22.5913.2531.21-0.2448.41-10.898.54-6.705.26-4.13
Capital Expenditure ----------
Free Cash Flow ------10.898.54-6.705.26-4.13
WACC
PV LFCF -9.657.12-5.263.88-2.87
SUM PV LFCF -7.19

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.26
Free cash flow (t + 1) -4.21
Terminal Value -98.81
Present Value of Terminal Value -72.94

Intrinsic Value

Enterprise Value -80.13
Net Debt 86.24
Equity Value -166.37
Shares Outstanding 17.96
Equity Value Per Share -9.26