Discounted Cash Flow (DCF) Analysis Levered

Goldman Sachs BDC, Inc. (GSBD)

$13.7

-0.03 (-0.22%)
All numbers are in Millions, Currency in USD
Stock DCF: -85.88 | 13.7 | overvalue

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 62.1043.29146.59170.09357.45656.391,205.342,213.384,064.467,463.61
Revenue (%)
Operating Cash Flow -49.24-35.27165.78-29.8627.44-75.55-138.74-254.76-467.82-859.07
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow ------75.55-138.74-254.76-467.82-859.07

Weighted Average Cost Of Capital

Share price $ 13.7
Beta 1.261
Diluted Shares Outstanding 101.69
Cost of Debt
Tax Rate 1.91
After-tax Cost of Debt 4.90%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.333
Total Debt -
Total Equity 1,393.17
Total Capital 1,393.17
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 62.1043.29146.59170.09357.45656.391,205.342,213.384,064.467,463.61
Operating Cash Flow -49.24-35.27165.78-29.8627.44-75.55-138.74-254.76-467.82-859.07
Capital Expenditure ----------
Free Cash Flow ------75.55-138.74-254.76-467.82-859.07
WACC
PV LFCF -63.21-106.16-178.31-299.49-503.03
SUM PV LFCF -1,257.52

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.33
Free cash flow (t + 1) -876.25
Terminal Value -11,954.33
Present Value of Terminal Value -7,652.95

Intrinsic Value

Enterprise Value -8,910.46
Net Debt -177.58
Equity Value -8,732.89
Shares Outstanding 101.69
Equity Value Per Share -85.88