Discounted Cash Flow (DCF) Analysis Levered
Western Asset High Income Fund II I... (HIX)
$5.54
+0.01 (+0.18%)
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 | 16.24 | 39.13 | -45.82 | 120.07 | -40.50 | 17.41 | -7.48 | 3.22 | -1.38 | 0.59 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 57.88 | 28.29 | 79.51 | 276.30 | 33.03 | 14.06 | -6.04 | 2.60 | -1.12 | 0.48 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 14.06 | -6.04 | 2.60 | -1.12 | 0.48 |
Weighted Average Cost Of Capital
Share price | $ 5.54 |
---|---|
Beta | 0.931 |
Diluted Shares Outstanding | 60.67 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 0.82% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.912 |
Total Debt | 179.37 |
Total Equity | 336.12 |
Total Capital | 515.50 |
Debt Weighting | 34.80 |
Equity Weighting | 65.20 |
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 | 16.24 | 39.13 | -45.82 | 120.07 | -40.50 | 17.41 | -7.48 | 3.22 | -1.38 | 0.59 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 57.88 | 28.29 | 79.51 | 276.30 | 33.03 | 14.06 | -6.04 | 2.60 | -1.12 | 0.48 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 14.06 | -6.04 | 2.60 | -1.12 | 0.48 |
WACC | ||||||||||
PV LFCF | 13.33 | -5.44 | 2.22 | -0.90 | 0.37 | |||||
SUM PV LFCF | 9.58 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.44 |
Free cash flow (t + 1) | 0.49 |
Terminal Value | 14.23 |
Present Value of Terminal Value | 10.92 |
Intrinsic Value
Enterprise Value | 20.50 |
---|---|
Net Debt | 177.21 |
Equity Value | -156.71 |
Shares Outstanding | 60.67 |
Equity Value Per Share | -2.58 |