Discounted Cash Flow (DCF) Analysis Levered
First Trust MLP and Energy Income F... (FEI)
$8.0699
+0.10 (+1.25%)
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 | -43.85 | 32.93 | -201.40 | 99.14 | 52.11 | -89.02 | 152.09 | -259.84 | 443.94 | -758.46 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 90.04 | 56.92 | 170.70 | -5.61 | 17.43 | 15.92 | -27.20 | 46.48 | -79.41 | 135.66 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 15.92 | -27.20 | 46.48 | -79.41 | 135.66 |
Weighted Average Cost Of Capital
Share price | $ 8.0,699 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 45.62 |
Cost of Debt | |
Tax Rate | -29.47 |
After-tax Cost of Debt | 1.95% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.626 |
Total Debt | 107 |
Total Equity | 368.15 |
Total Capital | 475.15 |
Debt Weighting | 22.52 |
Equity Weighting | 77.48 |
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 | -43.85 | 32.93 | -201.40 | 99.14 | 52.11 | -89.02 | 152.09 | -259.84 | 443.94 | -758.46 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 90.04 | 56.92 | 170.70 | -5.61 | 17.43 | 15.92 | -27.20 | 46.48 | -79.41 | 135.66 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 15.92 | -27.20 | 46.48 | -79.41 | 135.66 |
WACC | ||||||||||
PV LFCF | 12.57 | -20.64 | 33.91 | -55.69 | 91.47 | |||||
SUM PV LFCF | 75.03 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.02 |
Free cash flow (t + 1) | 138.38 |
Terminal Value | 6,850.33 |
Present Value of Terminal Value | 5,625.06 |
Intrinsic Value
Enterprise Value | 5,700.10 |
---|---|
Net Debt | 104.36 |
Equity Value | 5,595.74 |
Shares Outstanding | 45.62 |
Equity Value Per Share | 122.66 |