Discounted Cash Flow (DCF) Analysis Levered
Kimco Realty Corporation (KIM)
$19.4
+0.18 (+0.94%)
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 | 1,164.76 | 1,158.88 | 1,057.89 | 1,364.59 | 1,727.68 | 1,928.01 | 2,151.57 | 2,401.04 | 2,679.45 | 2,990.13 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 637.94 | 583.63 | 589.91 | 618.87 | 861.11 | 987.48 | 1,101.98 | 1,229.76 | 1,372.35 | 1,531.48 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 987.48 | 1,101.98 | 1,229.76 | 1,372.35 | 1,531.48 |
Weighted Average Cost Of Capital
Share price | $ 19.4 |
---|---|
Beta | 1.446 |
Diluted Shares Outstanding | 617.86 |
Cost of Debt | |
Tax Rate | -184.34 |
After-tax Cost of Debt | 3.12% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.569 |
Total Debt | 7,271.56 |
Total Equity | 11,986.45 |
Total Capital | 19,258.01 |
Debt Weighting | 37.76 |
Equity Weighting | 62.24 |
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 | 1,164.76 | 1,158.88 | 1,057.89 | 1,364.59 | 1,727.68 | 1,928.01 | 2,151.57 | 2,401.04 | 2,679.45 | 2,990.13 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 637.94 | 583.63 | 589.91 | 618.87 | 861.11 | 987.48 | 1,101.98 | 1,229.76 | 1,372.35 | 1,531.48 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 987.48 | 1,101.98 | 1,229.76 | 1,372.35 | 1,531.48 |
WACC | ||||||||||
PV LFCF | 789.15 | 817.23 | 846.32 | 876.43 | 907.63 | |||||
SUM PV LFCF | 4,919.81 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.76 |
Free cash flow (t + 1) | 1,562.11 |
Terminal Value | 27,119.89 |
Present Value of Terminal Value | 18,663.80 |
Intrinsic Value
Enterprise Value | 23,583.61 |
---|---|
Net Debt | 7,121.74 |
Equity Value | 16,461.87 |
Shares Outstanding | 617.86 |
Equity Value Per Share | 26.64 |