Discounted Cash Flow (DCF) Analysis Levered

The GDL Fund (GDL)

$7.99

+0.01 (+0.13%)
All numbers are in Millions, Currency in USD
Stock DCF: -61.64 | 7.99 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 4.73-4.168.65-1.551.62-1.701.77-1.861.94
Revenue (%)
Operating Cash Flow 8.4032.58-24.60108.67-32.0233.49-35.0236.62-38.30
Operating Cash Flow (%)
Capital Expenditure ---------
Capital Expenditure (%)
Free Cash Flow -----32.0233.49-35.0236.62-38.30

Weighted Average Cost Of Capital

Share price $ 7.99
Beta 0.343
Diluted Shares Outstanding 15.75
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.217
Total Debt -
Total Equity 125.81
Total Capital 125.81
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 4.73-4.168.65-1.551.62-1.701.77-1.861.94
Operating Cash Flow 8.4032.58-24.60108.67-32.0233.49-35.0236.62-38.30
Capital Expenditure ---------
Free Cash Flow -----32.0233.49-35.0236.62-38.30
WACC
PV LFCF -32.0231.82-31.6331.44-31.24
SUM PV LFCF -30.06

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.22
Free cash flow (t + 1) -39.06
Terminal Value -1,213.09
Present Value of Terminal Value -940.59

Intrinsic Value

Enterprise Value -970.65
Net Debt -
Equity Value -970.65
Shares Outstanding 15.75
Equity Value Per Share -61.64