Discounted Cash Flow (DCF) Analysis Levered
First Trust Intermediate Duration P... (FPF)
$15.35
-0.12 (-0.78%)
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 | -38.25 | 199.15 | -7.73 | 232.83 | -300.52 | 2,752.97 | -25,218.87 | 231,019.97 | -2,116,281.72 | 19,386,412.08 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 166.21 | 94.68 | 145.87 | 5.55 | 207.49 | -12,882.80 | 118,014.23 | -1,081,081.28 | 9,903,354.06 | -90,720,673.54 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | - | - | - | - | - | -12,882.80 | 118,014.23 | -1,081,081.28 | 9,903,354.06 | -90,720,673.54 |
Weighted Average Cost Of Capital
| Share price | $ 15.35 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 60.67 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 2.10% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.693 |
| Total Debt | 549.60 |
| Total Equity | 931.21 |
| Total Capital | 1,480.81 |
| Debt Weighting | 37.11 |
| Equity Weighting | 62.89 |
| 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 | -38.25 | 199.15 | -7.73 | 232.83 | -300.52 | 2,752.97 | -25,218.87 | 231,019.97 | -2,116,281.72 | 19,386,412.08 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 166.21 | 94.68 | 145.87 | 5.55 | 207.49 | -12,882.80 | 118,014.23 | -1,081,081.28 | 9,903,354.06 | -90,720,673.54 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | -12,882.80 | 118,014.23 | -1,081,081.28 | 9,903,354.06 | -90,720,673.54 |
| WACC | ||||||||||
| PV LFCF | -12,495.45 | 111,024.05 | -986,466.52 | 8,764,913.71 | -77,877,668.20 | |||||
| SUM PV LFCF | -70,000,692.41 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.10 |
| Free cash flow (t + 1) | -92,535,087.01 |
| Terminal Value | -8,412,280,637.37 |
| Present Value of Terminal Value | -7,221,383,778.85 |
Intrinsic Value
| Enterprise Value | -7,291,384,471.26 |
|---|---|
| Net Debt | 549.39 |
| Equity Value | -7,291,385,020.66 |
| Shares Outstanding | 60.67 |
| Equity Value Per Share | -120,190,053.79 |