Discounted Cash Flow (DCF) Analysis Levered
Kelt Exploration Ltd. (KEL.TO)
$5.61
+0.07 (+1.26%)
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 | 389.28 | 394.36 | 207.16 | 316.76 | 613.36 | 767.28 | 959.82 | 1,200.69 | 1,501.99 | 1,878.91 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 186.38 | 162.49 | 59.28 | 159.71 | 306.02 | 334.55 | 418.51 | 523.53 | 654.91 | 819.25 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -295.57 | -321.33 | -152.10 | -222.36 | -317.58 | -541.40 | -677.27 | -847.23 | -1,059.83 | -1,325.79 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -109.18 | -158.84 | -92.82 | -62.64 | -11.56 | -206.85 | -258.76 | -323.70 | -404.93 | -506.54 |
Weighted Average Cost Of Capital
| Share price | $ 5.61 |
|---|---|
| Beta | 2.377 |
| Diluted Shares Outstanding | 190.81 |
| Cost of Debt | |
| Tax Rate | 24.47 |
| After-tax Cost of Debt | 8.93% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.933 |
| Total Debt | 12.35 |
| Total Equity | 1,070.43 |
| Total Capital | 1,082.78 |
| Debt Weighting | 1.14 |
| Equity Weighting | 98.86 |
| 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 | 389.28 | 394.36 | 207.16 | 316.76 | 613.36 | 767.28 | 959.82 | 1,200.69 | 1,501.99 | 1,878.91 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 186.38 | 162.49 | 59.28 | 159.71 | 306.02 | 334.55 | 418.51 | 523.53 | 654.91 | 819.25 |
| Capital Expenditure | -295.57 | -321.33 | -152.10 | -222.36 | -317.58 | -541.40 | -677.27 | -847.23 | -1,059.83 | -1,325.79 |
| Free Cash Flow | -109.18 | -158.84 | -92.82 | -62.64 | -11.56 | -206.85 | -258.76 | -323.70 | -404.93 | -506.54 |
| WACC | ||||||||||
| PV LFCF | -180.09 | -196.14 | -213.62 | -232.65 | -253.38 | |||||
| SUM PV LFCF | -1,075.88 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 14.86 |
| Free cash flow (t + 1) | -516.67 |
| Terminal Value | -4,017.68 |
| Present Value of Terminal Value | -2,009.70 |
Intrinsic Value
| Enterprise Value | -3,085.58 |
|---|---|
| Net Debt | 12.22 |
| Equity Value | -3,097.80 |
| Shares Outstanding | 190.81 |
| Equity Value Per Share | -16.24 |