Discounted Cash Flow (DCF) Analysis Levered
Gran Tierra Energy Inc. (GTE.TO)
$7.99
+0.11 (+1.40%)
All numbers are in Millions, Currency in USD
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 | 613.43 | 570.98 | 237.84 | 473.72 | 711.39 | 860.93 | 1,041.90 | 1,260.91 | 1,525.97 | 1,846.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 284.51 | 177.67 | 81.07 | 244.83 | 427.71 | 384.64 | 465.50 | 563.35 | 681.77 | 825.08 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -400.29 | -457.09 | -96.28 | -149.88 | -236.60 | -431.65 | -522.38 | -632.19 | -765.08 | -925.91 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -115.78 | -279.42 | -15.21 | 94.96 | 191.11 | -47 | -56.88 | -68.84 | -83.31 | -100.82 |
Weighted Average Cost Of Capital
| Share price | $ 7.99 |
|---|---|
| Beta | 1.653 |
| Diluted Shares Outstanding | 367.87 |
| Cost of Debt | |
| Tax Rate | 43.24 |
| After-tax Cost of Debt | 4.14% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.057 |
| Total Debt | 589.59 |
| Total Equity | 2,939.31 |
| Total Capital | 3,528.90 |
| Debt Weighting | 16.71 |
| Equity Weighting | 83.29 |
| 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 | 613.43 | 570.98 | 237.84 | 473.72 | 711.39 | 860.93 | 1,041.90 | 1,260.91 | 1,525.97 | 1,846.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 284.51 | 177.67 | 81.07 | 244.83 | 427.71 | 384.64 | 465.50 | 563.35 | 681.77 | 825.08 |
| Capital Expenditure | -400.29 | -457.09 | -96.28 | -149.88 | -236.60 | -431.65 | -522.38 | -632.19 | -765.08 | -925.91 |
| Free Cash Flow | -115.78 | -279.42 | -15.21 | 94.96 | 191.11 | -47 | -56.88 | -68.84 | -83.31 | -100.82 |
| WACC | ||||||||||
| PV LFCF | -42.45 | -46.39 | -50.70 | -55.42 | -60.57 | |||||
| SUM PV LFCF | -255.52 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.73 |
| Free cash flow (t + 1) | -102.84 |
| Terminal Value | -1,177.98 |
| Present Value of Terminal Value | -707.64 |
Intrinsic Value
| Enterprise Value | -963.16 |
|---|---|
| Net Debt | 462.72 |
| Equity Value | -1,425.88 |
| Shares Outstanding | 367.87 |
| Equity Value Per Share | -3.88 |