Discounted Cash Flow (DCF) Analysis Levered
Kimco Realty Corporation (KIM)
$23.24
-0.01 (-0.04%)
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 | 1,200.83 | 1,164.76 | 1,158.88 | 1,057.89 | 1,364.59 | 1,421.79 | 1,481.39 | 1,543.49 | 1,608.19 | 1,675.60 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 614.18 | 637.94 | 583.63 | 589.91 | 618.87 | 731.92 | 762.60 | 794.56 | 827.87 | 862.58 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 731.92 | 762.60 | 794.56 | 827.87 | 862.58 |
Weighted Average Cost Of Capital
Share price | $ 23.24 |
---|---|
Beta | 1.476 |
Diluted Shares Outstanding | 511.38 |
Cost of Debt | |
Tax Rate | -13.28 |
After-tax Cost of Debt | 2.69% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.846 |
Total Debt | 7,599.48 |
Total Equity | 11,884.59 |
Total Capital | 19,484.07 |
Debt Weighting | 39.00 |
Equity Weighting | 61.00 |
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 | 1,200.83 | 1,164.76 | 1,158.88 | 1,057.89 | 1,364.59 | 1,421.79 | 1,481.39 | 1,543.49 | 1,608.19 | 1,675.60 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 614.18 | 637.94 | 583.63 | 589.91 | 618.87 | 731.92 | 762.60 | 794.56 | 827.87 | 862.58 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 731.92 | 762.60 | 794.56 | 827.87 | 862.58 |
WACC | ||||||||||
PV LFCF | 486.34 | 473.36 | 460.72 | 448.42 | 436.45 | |||||
SUM PV LFCF | 3,240.84 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.05 |
Free cash flow (t + 1) | 879.83 |
Terminal Value | 17,422.33 |
Present Value of Terminal Value | 12,392.90 |
Intrinsic Value
Enterprise Value | 15,633.73 |
---|---|
Net Debt | 7,264.82 |
Equity Value | 8,368.92 |
Shares Outstanding | 511.38 |
Equity Value Per Share | 16.37 |