Discounted Cash Flow (DCF) Analysis Levered
Gladstone Investment Corporation (GAINM)
$25.03
-0.01 (-0.04%)
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 | 49.40 | 65.33 | 99.23 | 8.01 | 48.73 | 109.74 | 247.16 | 556.65 | 1,253.66 | 2,823.45 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 32.48 | -28.83 | 93.62 | 35.31 | -29.73 | 108.86 | 245.17 | 552.17 | 1,243.58 | 2,800.76 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 108.86 | 245.17 | 552.17 | 1,243.58 | 2,800.76 |
Weighted Average Cost Of Capital
Share price | $ 25.03 |
---|---|
Beta | 1.457 |
Diluted Shares Outstanding | 14.60 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 2.93% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.568 |
Total Debt | 151.38 |
Total Equity | 365.33 |
Total Capital | 516.71 |
Debt Weighting | 29.30 |
Equity Weighting | 70.70 |
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 | 49.40 | 65.33 | 99.23 | 8.01 | 48.73 | 109.74 | 247.16 | 556.65 | 1,253.66 | 2,823.45 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 32.48 | -28.83 | 93.62 | 35.31 | -29.73 | 108.86 | 245.17 | 552.17 | 1,243.58 | 2,800.76 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 108.86 | 245.17 | 552.17 | 1,243.58 | 2,800.76 |
WACC | ||||||||||
PV LFCF | 100.49 | 208.92 | 434.34 | 902.98 | 1,877.29 | |||||
SUM PV LFCF | 3,524.02 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.33 |
Free cash flow (t + 1) | 2,856.77 |
Terminal Value | 45,130.68 |
Present Value of Terminal Value | 30,250.20 |
Intrinsic Value
Enterprise Value | 33,774.22 |
---|---|
Net Debt | 149.32 |
Equity Value | 33,624.90 |
Shares Outstanding | 14.60 |
Equity Value Per Share | 2,303.74 |