Discounted Cash Flow (DCF) Analysis Levered

Eaton Vance Municipal Income 2028 T... (ETX)

$18.45

+0.05 (+0.27%)
All numbers are in Millions, Currency in USD
Stock DCF: 5.75 | 18.45 | overvalue

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 14.479.4425.0810.31-2.95-2.54-2.18-1.87-1.60-1.38
Revenue (%)
Operating Cash Flow 9.2711.479.7410.0323.232.362.021.741.491.28
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----2.362.021.741.491.28

Weighted Average Cost Of Capital

Share price $ 18.45
Beta 0.192
Diluted Shares Outstanding 10.90
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.423
Total Debt -
Total Equity 201.13
Total Capital 201.13
Debt Weighting 0.00
Equity Weighting 100.00
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 14.479.4425.0810.31-2.95-2.54-2.18-1.87-1.60-1.38
Operating Cash Flow 9.2711.479.7410.0323.232.362.021.741.491.28
Capital Expenditure ----------
Free Cash Flow -----2.362.021.741.491.28
WACC
PV LFCF 2.071.701.401.150.95
SUM PV LFCF 7.93

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.42
Free cash flow (t + 1) 1.31
Terminal Value 53.99
Present Value of Terminal Value 43.49

Intrinsic Value

Enterprise Value 51.41
Net Debt -11.26
Equity Value 62.67
Shares Outstanding 10.90
Equity Value Per Share 5.75