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
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 | 14.47 | 9.44 | 25.08 | 10.31 | -2.95 | -2.54 | -2.18 | -1.87 | -1.60 | -1.38 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 9.27 | 11.47 | 9.74 | 10.03 | 23.23 | 2.36 | 2.02 | 1.74 | 1.49 | 1.28 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 2.36 | 2.02 | 1.74 | 1.49 | 1.28 |
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 | 14.47 | 9.44 | 25.08 | 10.31 | -2.95 | -2.54 | -2.18 | -1.87 | -1.60 | -1.38 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 9.27 | 11.47 | 9.74 | 10.03 | 23.23 | 2.36 | 2.02 | 1.74 | 1.49 | 1.28 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 2.36 | 2.02 | 1.74 | 1.49 | 1.28 |
WACC | ||||||||||
PV LFCF | 2.07 | 1.70 | 1.40 | 1.15 | 0.95 | |||||
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 |