Discounted Cash Flow (DCF) Analysis Levered
Gladstone Capital Corporation (GLAD)
$10.63
+0.01 (+0.09%)
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 | 39.23 | 45.58 | 50.03 | 8.40 | 94.74 | 324.70 | 1,112.88 | 3,814.28 | 13,073.05 | 44,806.52 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -12.88 | -17.57 | 9.25 | -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 | 39.23 | 45.58 | 50.03 | 8.40 | 94.74 | 324.70 | 1,112.88 | 3,814.28 | 13,073.05 | 44,806.52 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -12.88 | -17.57 | 9.25 | -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 |