Discounted Cash Flow (DCF) Analysis Levered
Nuveen Real Estate Income Fund (JRS)
$8.56
+0.10 (+1.18%)
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 | 28.02 | -29.66 | 76.47 | -27.25 | 125.76 | -270.66 | 582.51 | -1,253.68 | 2,698.16 | -5,806.94 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 28.34 | 43.77 | 18.86 | 41 | -12.04 | 98.44 | -211.86 | 455.96 | -981.31 | 2,111.97 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 98.44 | -211.86 | 455.96 | -981.31 | 2,111.97 |
Weighted Average Cost Of Capital
Share price | $ 8.56 |
---|---|
Beta | 1.186 |
Diluted Shares Outstanding | 28.85 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 0.63% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.117 |
Total Debt | 144 |
Total Equity | 246.93 |
Total Capital | 390.93 |
Debt Weighting | 36.84 |
Equity Weighting | 63.16 |
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 | 28.02 | -29.66 | 76.47 | -27.25 | 125.76 | -270.66 | 582.51 | -1,253.68 | 2,698.16 | -5,806.94 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 28.34 | 43.77 | 18.86 | 41 | -12.04 | 98.44 | -211.86 | 455.96 | -981.31 | 2,111.97 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 98.44 | -211.86 | 455.96 | -981.31 | 2,111.97 |
WACC | ||||||||||
PV LFCF | 69.43 | -140.99 | 286.29 | -581.33 | 1,180.43 | |||||
SUM PV LFCF | 1,088.57 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.99 |
Free cash flow (t + 1) | 2,154.21 |
Terminal Value | 53,990.18 |
Present Value of Terminal Value | 40,363.64 |
Intrinsic Value
Enterprise Value | 41,452.21 |
---|---|
Net Debt | 144 |
Equity Value | 41,308.21 |
Shares Outstanding | 28.85 |
Equity Value Per Share | 1,431.96 |