Discounted Cash Flow (DCF) Analysis Levered
The GDL Fund (GDL)
$7.98
+0.01 (+0.06%)
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 | -4.16 | 8.65 | -1.55 | 4.11 | -1.97 | 2.66 | -3.58 | 4.83 | -6.50 | 8.76 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 32.58 | -24.60 | 108.67 | 7.26 | -20.32 | -36.52 | 49.20 | -66.27 | 89.27 | -120.25 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | - | - | - | - | - | -36.52 | 49.20 | -66.27 | 89.27 | -120.25 |
Weighted Average Cost Of Capital
| Share price | $ 7.98 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 15.48 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.255 |
| Total Debt | - |
| Total Equity | 123.55 |
| Total Capital | 123.55 |
| 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 | -4.16 | 8.65 | -1.55 | 4.11 | -1.97 | 2.66 | -3.58 | 4.83 | -6.50 | 8.76 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 32.58 | -24.60 | 108.67 | 7.26 | -20.32 | -36.52 | 49.20 | -66.27 | 89.27 | -120.25 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | -36.52 | 49.20 | -66.27 | 89.27 | -120.25 |
| WACC | ||||||||||
| PV LFCF | -35.03 | 45.27 | -58.49 | 75.58 | -97.66 | |||||
| SUM PV LFCF | -70.33 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.25 |
| Free cash flow (t + 1) | -122.65 |
| Terminal Value | -5,451.25 |
| Present Value of Terminal Value | -4,427.06 |
Intrinsic Value
| Enterprise Value | -4,497.40 |
|---|---|
| Net Debt | -1.41 |
| Equity Value | -4,495.99 |
| Shares Outstanding | 15.48 |
| Equity Value Per Share | -290.40 |