Discounted Cash Flow (DCF) Analysis Levered
IAMGOLD Corporation (IAG)
$2.17
-0.09 (-3.98%)
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 | 1,111 | 1,065.30 | 1,241.70 | 1,151.70 | 958.80 | 931.11 | 904.22 | 878.11 | 852.75 | 828.12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 191.10 | 363 | 347.60 | 285 | 408.70 | 273.08 | 265.19 | 257.53 | 250.10 | 242.87 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -336 | -274.40 | -317.20 | -655.20 | -780.50 | -409.39 | -397.57 | -386.09 | -374.94 | -364.11 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -144.90 | 88.60 | 30.40 | -370.20 | -371.80 | -136.31 | -132.38 | -128.55 | -124.84 | -121.23 |
Weighted Average Cost Of Capital
| Share price | $ 2.17 |
|---|---|
| Beta | 1.284 |
| Diluted Shares Outstanding | 478.60 |
| Cost of Debt | |
| Tax Rate | 187.29 |
| After-tax Cost of Debt | 0.01% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.601 |
| Total Debt | 992.50 |
| Total Equity | 1,038.56 |
| Total Capital | 2,031.06 |
| Debt Weighting | 48.87 |
| Equity Weighting | 51.13 |
| 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 | 1,111 | 1,065.30 | 1,241.70 | 1,151.70 | 958.80 | 931.11 | 904.22 | 878.11 | 852.75 | 828.12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 191.10 | 363 | 347.60 | 285 | 408.70 | 273.08 | 265.19 | 257.53 | 250.10 | 242.87 |
| Capital Expenditure | -336 | -274.40 | -317.20 | -655.20 | -780.50 | -409.39 | -397.57 | -386.09 | -374.94 | -364.11 |
| Free Cash Flow | -144.90 | 88.60 | 30.40 | -370.20 | -371.80 | -136.31 | -132.38 | -128.55 | -124.84 | -121.23 |
| WACC | ||||||||||
| PV LFCF | -129.29 | -119.09 | -109.69 | -101.04 | -93.07 | |||||
| SUM PV LFCF | -552.19 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.43 |
| Free cash flow (t + 1) | -123.66 |
| Terminal Value | -3,605.22 |
| Present Value of Terminal Value | -2,767.64 |
Intrinsic Value
| Enterprise Value | -3,319.83 |
|---|---|
| Net Debt | 584.70 |
| Equity Value | -3,904.53 |
| Shares Outstanding | 478.60 |
| Equity Value Per Share | -8.16 |