Discounted Cash Flow (DCF) Analysis Levered

Barings Corporate Investors (MCI)

$13.02

-0.28 (-2.11%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,449.65 | 13.02 | 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 44.5410.9939.9516.2254.45104.05198.86380.06726.361,388.18
Revenue (%)
Operating Cash Flow 14.5241.7518.9425.832.83129.93248.31474.56906.961,733.34
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----129.93248.31474.56906.961,733.34

Weighted Average Cost Of Capital

Share price $ 13.02
Beta 0.737
Diluted Shares Outstanding 20.21
Cost of Debt
Tax Rate 1.10
After-tax Cost of Debt 2.79%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.355
Total Debt 38
Total Equity 263.19
Total Capital 301.19
Debt Weighting 12.62
Equity Weighting 87.38
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 44.5410.9939.9516.2254.45104.05198.86380.06726.361,388.18
Operating Cash Flow 14.5241.7518.9425.832.83129.93248.31474.56906.961,733.34
Capital Expenditure ----------
Free Cash Flow -----129.93248.31474.56906.961,733.34
WACC
PV LFCF 121.68217.78389.78697.641,248.63
SUM PV LFCF 2,675.51

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.78
Free cash flow (t + 1) 1,768.01
Terminal Value 36,987.63
Present Value of Terminal Value 26,644.46

Intrinsic Value

Enterprise Value 29,319.97
Net Debt 16.86
Equity Value 29,303.10
Shares Outstanding 20.21
Equity Value Per Share 1,449.65