Discounted Cash Flow (DCF) Analysis Levered

Genie Energy Ltd. (GNE)

$10.02

+0.14 (+1.42%)
All numbers are in Millions, Currency in USD
Stock DCF: 46.37 | 10.02 | 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 264.20280.31315.29379.31363.73395.34429.71467.07507.67551.80
Revenue (%)
Operating Cash Flow 9.2919.3715.7523.1266.9931.5834.3237.3140.5544.07
Operating Cash Flow (%)
Capital Expenditure -8.82-1.33-0.40-0.17-0.13-3.18-3.46-3.76-4.08-4.44
Capital Expenditure (%)
Free Cash Flow 0.4618.0415.3522.9566.8728.4030.8733.5536.4739.64

Weighted Average Cost Of Capital

Share price $ 10.02
Beta 0.359
Diluted Shares Outstanding 26.32
Cost of Debt
Tax Rate 10.55
After-tax Cost of Debt 4.47%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.201
Total Debt -
Total Equity 263.69
Total Capital 263.69
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
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 264.20280.31315.29379.31363.73395.34429.71467.07507.67551.80
Operating Cash Flow 9.2919.3715.7523.1266.9931.5834.3237.3140.5544.07
Capital Expenditure -8.82-1.33-0.40-0.17-0.13-3.18-3.46-3.76-4.08-4.44
Free Cash Flow 0.4618.0415.3522.9566.8728.4030.8733.5536.4739.64
WACC
PV LFCF 26.9927.8928.8229.7730.76
SUM PV LFCF 144.24

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.20
Free cash flow (t + 1) 40.43
Terminal Value 1,263.44
Present Value of Terminal Value 980.56

Intrinsic Value

Enterprise Value 1,124.80
Net Debt -95.49
Equity Value 1,220.29
Shares Outstanding 26.32
Equity Value Per Share 46.37