Discounted Cash Flow (DCF) Analysis Levered

BlackRock MuniYield California Qual... (MCA)

$12.51

-0.12 (-0.95%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: 64.47 | 12.51 | undervalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue -6.618.1640.9231.2547.3771.81108.87165.04250.19
Revenue (%)
Operating Cash Flow 9.2212.4227.4322.2117.8827.1141.1062.3194.45
Operating Cash Flow (%)
Capital Expenditure ---------
Capital Expenditure (%)
Free Cash Flow ----17.8827.1141.1062.3194.45

Weighted Average Cost Of Capital

Share price $ 12.51
Beta 0.189
Diluted Shares Outstanding 34.38
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5,367.72%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.409
Total Debt 0.10
Total Equity 430.04
Total Capital 430.14
Debt Weighting 0.02
Equity Weighting 99.98
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue -6.618.1640.9231.2547.3771.81108.87165.04250.19
Operating Cash Flow 9.2212.4227.4322.2117.8827.1141.1062.3194.45
Capital Expenditure ---------
Free Cash Flow ----17.8827.1141.1062.3194.45
WACC
PV LFCF 17.8825.6736.8452.8775.87
SUM PV LFCF 197.98

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.63
Free cash flow (t + 1) 96.34
Terminal Value 2,654.07
Present Value of Terminal Value 2,018.25

Intrinsic Value

Enterprise Value 2,216.23
Net Debt 0.10
Equity Value 2,216.13
Shares Outstanding 34.38
Equity Value Per Share 64.47