Discounted Cash Flow (DCF) Analysis Levered

DWS Municipal Income Trust (KTF)

$9.01

+0.02 (+0.22%)
All numbers are in Millions, Currency in USD
Stock DCF: 7,444.57 | 9.01 | undervalue

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 32.42-3.7153.7922.9222.23-73.39242.30-8002,641.39-8,721.11
Revenue (%)
Operating Cash Flow 79.3444.0321.8227.3421.19100.67-332.401,097.49-3,623.6011,964.10
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----100.67-332.401,097.49-3,623.6011,964.10

Weighted Average Cost Of Capital

Share price $ 9.01
Beta 0.311
Diluted Shares Outstanding 39.85
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 6.18%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.128
Total Debt 52.70
Total Equity 359.08
Total Capital 411.78
Debt Weighting 12.80
Equity Weighting 87.20
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 32.42-3.7153.7922.9222.23-73.39242.30-8002,641.39-8,721.11
Operating Cash Flow 79.3444.0321.8227.3421.19100.67-332.401,097.49-3,623.6011,964.10
Capital Expenditure ----------
Free Cash Flow -----100.67-332.401,097.49-3,623.6011,964.10
WACC
PV LFCF 95.64-300.01941.05-2,951.809,258.98
SUM PV LFCF 7,043.86

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.26
Free cash flow (t + 1) 12,203.38
Terminal Value 374,336.83
Present Value of Terminal Value 289,698.16

Intrinsic Value

Enterprise Value 296,742.02
Net Debt 52.70
Equity Value 296,689.32
Shares Outstanding 39.85
Equity Value Per Share 7,444.57