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
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 | -3.71 | 53.79 | 22.92 | 22.23 | -73.39 | 242.30 | -800 | 2,641.39 | -8,721.11 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 79.34 | 44.03 | 21.82 | 27.34 | 21.19 | 100.67 | -332.40 | 1,097.49 | -3,623.60 | 11,964.10 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 100.67 | -332.40 | 1,097.49 | -3,623.60 | 11,964.10 |
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 | -3.71 | 53.79 | 22.92 | 22.23 | -73.39 | 242.30 | -800 | 2,641.39 | -8,721.11 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 79.34 | 44.03 | 21.82 | 27.34 | 21.19 | 100.67 | -332.40 | 1,097.49 | -3,623.60 | 11,964.10 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 100.67 | -332.40 | 1,097.49 | -3,623.60 | 11,964.10 |
WACC | ||||||||||
PV LFCF | 95.64 | -300.01 | 941.05 | -2,951.80 | 9,258.98 | |||||
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 |