Discounted Cash Flow (DCF) Analysis Levered
Karora Resources Inc. (KRR.TO)
$4.79
-0.08 (-1.64%)
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 | 73.08 | 128.77 | 128.04 | 239.14 | 264.19 | 378.37 | 541.92 | 776.15 | 1,111.63 | 1,592.10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -2.06 | -8.31 | 15.18 | 91.13 | 106.46 | 61.29 | 87.78 | 125.72 | 180.06 | 257.89 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -37.39 | -13.01 | -25.39 | -46.31 | -92.02 | -102.38 | -146.64 | -210.02 | -300.79 | -430.81 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -39.45 | -21.32 | -10.21 | 44.83 | 14.44 | -41.10 | -58.86 | -84.30 | -120.73 | -172.92 |
Weighted Average Cost Of Capital
| Share price | $ 4.79 |
|---|---|
| Beta | 0.870 |
| Diluted Shares Outstanding | 153.70 |
| Cost of Debt | |
| Tax Rate | 40.37 |
| After-tax Cost of Debt | 5.95% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.685 |
| Total Debt | 41.64 |
| Total Equity | 736.21 |
| Total Capital | 777.84 |
| Debt Weighting | 5.35 |
| Equity Weighting | 94.65 |
| 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 | 73.08 | 128.77 | 128.04 | 239.14 | 264.19 | 378.37 | 541.92 | 776.15 | 1,111.63 | 1,592.10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -2.06 | -8.31 | 15.18 | 91.13 | 106.46 | 61.29 | 87.78 | 125.72 | 180.06 | 257.89 |
| Capital Expenditure | -37.39 | -13.01 | -25.39 | -46.31 | -92.02 | -102.38 | -146.64 | -210.02 | -300.79 | -430.81 |
| Free Cash Flow | -39.45 | -21.32 | -10.21 | 44.83 | 14.44 | -41.10 | -58.86 | -84.30 | -120.73 | -172.92 |
| WACC | ||||||||||
| PV LFCF | -35.50 | -47.26 | -62.91 | -83.75 | -111.48 | |||||
| SUM PV LFCF | -366.78 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.59 |
| Free cash flow (t + 1) | -176.38 |
| Terminal Value | -3,155.22 |
| Present Value of Terminal Value | -2,188.62 |
Intrinsic Value
| Enterprise Value | -2,555.40 |
|---|---|
| Net Debt | -49.37 |
| Equity Value | -2,506.03 |
| Shares Outstanding | 153.70 |
| Equity Value Per Share | -16.30 |