Discounted Cash Flow (DCF) Analysis Levered
Euroseas Ltd. (ESEA)
$23
-0.90 (-3.77%)
All numbers are in Millions, Currency in USD
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 | 42.92 | 34.42 | 40.02 | 53.30 | 93.89 | 118.73 | 150.14 | 189.85 | 240.07 | 303.57 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 7.96 | -1.47 | 3.24 | 2.41 | 52.63 | 19.69 | 24.90 | 31.49 | 39.82 | 50.35 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -39.70 | -0 | -55.72 | -0.65 | -74.11 | -74.06 | -93.65 | -118.42 | -149.74 | -189.35 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -31.74 | -1.48 | -52.48 | 1.76 | -21.49 | -54.36 | -68.74 | -86.93 | -109.92 | -139 |
Weighted Average Cost Of Capital
| Share price | $ 23 |
|---|---|
| Beta | 0.550 |
| Diluted Shares Outstanding | 5.75 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 2.35% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.485 |
| Total Debt | 118.04 |
| Total Equity | 132.34 |
| Total Capital | 250.38 |
| Debt Weighting | 47.14 |
| Equity Weighting | 52.86 |
| 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 | 42.92 | 34.42 | 40.02 | 53.30 | 93.89 | 118.73 | 150.14 | 189.85 | 240.07 | 303.57 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 7.96 | -1.47 | 3.24 | 2.41 | 52.63 | 19.69 | 24.90 | 31.49 | 39.82 | 50.35 |
| Capital Expenditure | -39.70 | -0 | -55.72 | -0.65 | -74.11 | -74.06 | -93.65 | -118.42 | -149.74 | -189.35 |
| Free Cash Flow | -31.74 | -1.48 | -52.48 | 1.76 | -21.49 | -54.36 | -68.74 | -86.93 | -109.92 | -139 |
| WACC | ||||||||||
| PV LFCF | -42.94 | -52.20 | -63.47 | -77.16 | -93.81 | |||||
| SUM PV LFCF | -401.18 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.01 |
| Free cash flow (t + 1) | -141.78 |
| Terminal Value | -7,053.52 |
| Present Value of Terminal Value | -5,794.70 |
Intrinsic Value
| Enterprise Value | -6,195.88 |
|---|---|
| Net Debt | 91.51 |
| Equity Value | -6,287.38 |
| Shares Outstanding | 5.75 |
| Equity Value Per Share | -1,092.71 |