Discounted Cash Flow (DCF) Analysis Levered
Major Drilling Group International ... (MDI.TO)
$9.18
-0.02 (-0.22%)
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 | 342.33 | 384.82 | 409.14 | 432.08 | 650.42 | 772.16 | 916.69 | 1,088.28 | 1,291.98 | 1,533.81 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 10.17 | 20.96 | 42.11 | 34.45 | 94.87 | 63.73 | 75.66 | 89.83 | 106.64 | 126.60 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -22.51 | -25.49 | -32.04 | -31.30 | -49.94 | -55.52 | -65.92 | -78.25 | -92.90 | -110.29 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -12.34 | -4.52 | 10.07 | 3.14 | 44.93 | 8.21 | 9.75 | 11.57 | 13.74 | 16.31 |
Weighted Average Cost Of Capital
Share price | $ 9.18 |
---|---|
Beta | 1.488 |
Diluted Shares Outstanding | 82.73 |
Cost of Debt | |
Tax Rate | 21.94 |
After-tax Cost of Debt | 2.29% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.768 |
Total Debt | 55.39 |
Total Equity | 759.43 |
Total Capital | 814.82 |
Debt Weighting | 6.80 |
Equity Weighting | 93.20 |
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 | 342.33 | 384.82 | 409.14 | 432.08 | 650.42 | 772.16 | 916.69 | 1,088.28 | 1,291.98 | 1,533.81 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 10.17 | 20.96 | 42.11 | 34.45 | 94.87 | 63.73 | 75.66 | 89.83 | 106.64 | 126.60 |
Capital Expenditure | -22.51 | -25.49 | -32.04 | -31.30 | -49.94 | -55.52 | -65.92 | -78.25 | -92.90 | -110.29 |
Free Cash Flow | -12.34 | -4.52 | 10.07 | 3.14 | 44.93 | 8.21 | 9.75 | 11.57 | 13.74 | 16.31 |
WACC | ||||||||||
PV LFCF | 7.45 | 8.03 | 8.65 | 9.32 | 10.04 | |||||
SUM PV LFCF | 43.49 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 10.19 |
Free cash flow (t + 1) | 16.64 |
Terminal Value | 203.16 |
Present Value of Terminal Value | 125.06 |
Intrinsic Value
Enterprise Value | 168.56 |
---|---|
Net Debt | -15.87 |
Equity Value | 184.43 |
Shares Outstanding | 82.73 |
Equity Value Per Share | 2.23 |