Discounted Cash Flow (DCF) Analysis Levered

Gladstone Capital Corporation (GLAD)

$10.63

+0.01 (+0.09%)
All numbers are in Millions, Currency in USD
Stock DCF: -24,362.56 | 10.63 | overvalue

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 39.2345.5850.038.4094.74324.701,112.883,814.2813,073.0544,806.52
Revenue (%)
Operating Cash Flow -12.88-17.579.25-46.09-14.06-400.43-1,372.44-4,703.91-16,122.15-55,257.01
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ------400.43-1,372.44-4,703.91-16,122.15-55,257.01

Weighted Average Cost Of Capital

Share price $ 10.63
Beta 1.290
Diluted Shares Outstanding 33.23
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 4.86%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.880
Total Debt 237.11
Total Equity 353.28
Total Capital 590.39
Debt Weighting 40.16
Equity Weighting 59.84
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 39.2345.5850.038.4094.74324.701,112.883,814.2813,073.0544,806.52
Operating Cash Flow -12.88-17.579.25-46.09-14.06-400.43-1,372.44-4,703.91-16,122.15-55,257.01
Capital Expenditure ----------
Free Cash Flow ------400.43-1,372.44-4,703.91-16,122.15-55,257.01
WACC
PV LFCF -373.29-1,192.72-3,810.87-12,176.15-38,904.15
SUM PV LFCF -56,457.18

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.27
Free cash flow (t + 1) -56,362.15
Terminal Value -1,069,490.42
Present Value of Terminal Value -752,983.56

Intrinsic Value

Enterprise Value -809,440.74
Net Debt 236.44
Equity Value -809,677.18
Shares Outstanding 33.23
Equity Value Per Share -24,362.56