Discounted Cash Flow (DCF) Analysis Levered
IAMGOLD Corporation (IAG)
$1.88
+0.05 (+2.73%)
All numbers are in Millions, Currency in USD
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 | 1,094.90 | 1,111 | 1,065.30 | 1,241.70 | 1,151.70 | 1,170.90 | 1,190.42 | 1,210.26 | 1,230.43 | 1,250.94 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 295.30 | 191.10 | 363 | 347.60 | 285 | 306.74 | 311.86 | 317.05 | 322.34 | 327.71 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -239.50 | -336 | -274.40 | -317.20 | -669.30 | -378.28 | -384.59 | -391 | -397.52 | -404.14 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 55.80 | -144.90 | 88.60 | 30.40 | -384.30 | -71.54 | -72.73 | -73.94 | -75.18 | -76.43 |
Weighted Average Cost Of Capital
| Share price | $ 1.88 |
|---|---|
| Beta | 1.027 |
| Diluted Shares Outstanding | 476.50 |
| Cost of Debt | |
| Tax Rate | 20.40 |
| After-tax Cost of Debt | 3.98% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.972 |
| Total Debt | 530 |
| Total Equity | 895.82 |
| Total Capital | 1,425.82 |
| Debt Weighting | 37.17 |
| Equity Weighting | 62.83 |
| 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 | 1,094.90 | 1,111 | 1,065.30 | 1,241.70 | 1,151.70 | 1,170.90 | 1,190.42 | 1,210.26 | 1,230.43 | 1,250.94 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 295.30 | 191.10 | 363 | 347.60 | 285 | 306.74 | 311.86 | 317.05 | 322.34 | 327.71 |
| Capital Expenditure | -239.50 | -336 | -274.40 | -317.20 | -669.30 | -378.28 | -384.59 | -391 | -397.52 | -404.14 |
| Free Cash Flow | 55.80 | -144.90 | 88.60 | 30.40 | -384.30 | -71.54 | -72.73 | -73.94 | -75.18 | -76.43 |
| WACC | ||||||||||
| PV LFCF | -67.18 | -64.14 | -61.23 | -58.46 | -55.81 | |||||
| SUM PV LFCF | -306.82 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.49 |
| Free cash flow (t + 1) | -77.96 |
| Terminal Value | -1,736.27 |
| Present Value of Terminal Value | -1,267.86 |
Intrinsic Value
| Enterprise Value | -1,574.68 |
|---|---|
| Net Debt | -14.90 |
| Equity Value | -1,559.78 |
| Shares Outstanding | 476.50 |
| Equity Value Per Share | -3.27 |