Discounted Cash Flow (DCF) Analysis Levered
Ivy Funds - Delaware Ivy High Incom... (IVH)
$11.18
-0.41 (-3.54%)
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 | 29.93 | 28.74 | -3.19 | 38.90 | -46.39 | 145.19 | -454.34 | 1,421.83 | -4,449.49 | 13,924.29 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 27.85 | 31.55 | 45.12 | 15.49 | 13.77 | -348.24 | 1,089.79 | -3,410.42 | 10,672.60 | -33,398.96 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | -348.24 | 1,089.79 | -3,410.42 | 10,672.60 | -33,398.96 |
Weighted Average Cost Of Capital
Share price | $ 11.18 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 16.57 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 1.55% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 3.691 |
Total Debt | 87 |
Total Equity | 185.25 |
Total Capital | 272.25 |
Debt Weighting | 31.96 |
Equity Weighting | 68.04 |
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 | 29.93 | 28.74 | -3.19 | 38.90 | -46.39 | 145.19 | -454.34 | 1,421.83 | -4,449.49 | 13,924.29 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 27.85 | 31.55 | 45.12 | 15.49 | 13.77 | -348.24 | 1,089.79 | -3,410.42 | 10,672.60 | -33,398.96 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | -348.24 | 1,089.79 | -3,410.42 | 10,672.60 | -33,398.96 |
WACC | ||||||||||
PV LFCF | -338.07 | 1,027.04 | -3,120.11 | 9,478.78 | -28,796.26 | |||||
SUM PV LFCF | -21,748.61 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.01 |
Free cash flow (t + 1) | -34,066.94 |
Terminal Value | -3,372,964.68 |
Present Value of Terminal Value | -2,908,136.97 |
Intrinsic Value
Enterprise Value | -2,929,885.58 |
---|---|
Net Debt | 87 |
Equity Value | -2,929,972.58 |
Shares Outstanding | 16.57 |
Equity Value Per Share | -176,823.93 |