Discounted Cash Flow (DCF) Analysis Levered

GasLog Partners LP (GLOP)

$5.16

-0.16 (-3.01%)
All numbers are in Millions, Currency in USD
Stock DCF: 58.28 | 5.16 | undervalue

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 401.81383.20378.69333.66326.14309.87294.42279.73265.78252.52
Revenue (%)
Operating Cash Flow 180.13185.11239.06166.62233.39172.14163.55155.40147.64140.28
Operating Cash Flow (%)
Capital Expenditure -4.77-24.18-13.94-23.62-19.44-15.01-14.26-13.55-12.87-12.23
Capital Expenditure (%)
Free Cash Flow 175.36160.93225.12143213.94157.13149.29141.85134.77128.05

Weighted Average Cost Of Capital

Share price $ 5.16
Beta 2.272
Diluted Shares Outstanding 47.04
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 3.27%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.530
Total Debt 1,141.66
Total Equity 242.74
Total Capital 1,384.40
Debt Weighting 82.47
Equity Weighting 17.53
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 401.81383.20378.69333.66326.14309.87294.42279.73265.78252.52
Operating Cash Flow 180.13185.11239.06166.62233.39172.14163.55155.40147.64140.28
Capital Expenditure -4.77-24.18-13.94-23.62-19.44-15.01-14.26-13.55-12.87-12.23
Free Cash Flow 175.36160.93225.12143213.94157.13149.29141.85134.77128.05
WACC
PV LFCF 149.31134.80121.70109.8799.19
SUM PV LFCF 614.87

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.24
Free cash flow (t + 1) 130.61
Terminal Value 4,031.21
Present Value of Terminal Value 3,122.71

Intrinsic Value

Enterprise Value 3,737.57
Net Debt 996.13
Equity Value 2,741.45
Shares Outstanding 47.04
Equity Value Per Share 58.28