Discounted Cash Flow (DCF) Analysis Levered
CIBT Education Group Inc. (MBA.TO)
$0.49
+0.01 (+2.08%)
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 | 74.90 | 71 | 62.55 | 60.87 | 73.24 | 73.33 | 73.43 | 73.52 | 73.62 | 73.71 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 19.87 | -9.76 | 7.59 | 17.11 | 6.75 | 9.13 | 9.14 | 9.15 | 9.16 | 9.18 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -43.58 | -11.99 | -33.06 | -3.27 | -4.02 | -20.36 | -20.38 | -20.41 | -20.43 | -20.46 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -23.71 | -21.75 | -25.47 | 13.83 | 2.73 | -11.23 | -11.24 | -11.26 | -11.27 | -11.29 |
Weighted Average Cost Of Capital
Share price | $ 0.49 |
---|---|
Beta | 1.190 |
Diluted Shares Outstanding | 74.24 |
Cost of Debt | |
Tax Rate | 73.08 |
After-tax Cost of Debt | 0.69% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.149 |
Total Debt | 265.56 |
Total Equity | 36.38 |
Total Capital | 301.94 |
Debt Weighting | 87.95 |
Equity Weighting | 12.05 |
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 | 74.90 | 71 | 62.55 | 60.87 | 73.24 | 73.33 | 73.43 | 73.52 | 73.62 | 73.71 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 19.87 | -9.76 | 7.59 | 17.11 | 6.75 | 9.13 | 9.14 | 9.15 | 9.16 | 9.18 |
Capital Expenditure | -43.58 | -11.99 | -33.06 | -3.27 | -4.02 | -20.36 | -20.38 | -20.41 | -20.43 | -20.46 |
Free Cash Flow | -23.71 | -21.75 | -25.47 | 13.83 | 2.73 | -11.23 | -11.24 | -11.26 | -11.27 | -11.29 |
WACC | ||||||||||
PV LFCF | -10.85 | -10.68 | -10.52 | -10.36 | -10.19 | |||||
SUM PV LFCF | -53.51 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 1.71 |
Free cash flow (t + 1) | -11.51 |
Terminal Value | 3,969.65 |
Present Value of Terminal Value | 3,646.99 |
Intrinsic Value
Enterprise Value | 3,593.48 |
---|---|
Net Debt | 255.84 |
Equity Value | 3,337.64 |
Shares Outstanding | 74.24 |
Equity Value Per Share | 44.96 |