Discounted Cash Flow (DCF) Analysis Levered

Equity Commonwealth (EQC)

$25.95

-0.14 (-0.54%)
All numbers are in Millions, Currency in USD
Stock DCF: 24.08 | 25.95 | 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 340.57197.02127.8566.285838.0124.9016.3210.697.01
Revenue (%)
Operating Cash Flow 10089.5498.9433.3316.1117.5011.477.514.923.23
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----17.5011.477.514.923.23

Weighted Average Cost Of Capital

Share price $ 25.95
Beta 0.340
Diluted Shares Outstanding 121.41
Cost of Debt
Tax Rate -0.53
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.119
Total Debt -
Total Equity 3,150.62
Total Capital 3,150.62
Debt Weighting 0.00
Equity Weighting 100.00
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 340.57197.02127.8566.285838.0124.9016.3210.697.01
Operating Cash Flow 10089.5498.9433.3316.1117.5011.477.514.923.23
Capital Expenditure ----------
Free Cash Flow -----17.5011.477.514.923.23
WACC
PV LFCF 16.6510.386.474.032.51
SUM PV LFCF 40.04

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.12
Free cash flow (t + 1) 3.29
Terminal Value 105.47
Present Value of Terminal Value 82.17

Intrinsic Value

Enterprise Value 122.21
Net Debt -2,801
Equity Value 2,923.21
Shares Outstanding 121.41
Equity Value Per Share 24.08