Discounted Cash Flow (DCF) Analysis Levered
Major Drilling Group International ... (MDI.TO)
$8.33
+0.03 (+0.36%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 384.82 | 409.14 | 432.08 | 650.42 | 735.74 | 874.75 | 1,040.03 | 1,236.54 | 1,470.17 | 1,747.95 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 20.96 | 42.11 | 34.45 | 94.87 | 113.19 | 93.92 | 111.66 | 132.76 | 157.85 | 187.67 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -25.49 | -32.04 | -31.30 | -49.94 | -58.69 | -65.35 | -77.70 | -92.38 | -109.83 | -130.59 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -4.52 | 10.07 | 3.14 | 44.93 | 54.50 | 28.57 | 33.96 | 40.38 | 48.01 | 57.08 |
Weighted Average Cost Of Capital
Share price | $ 8.33 |
---|---|
Beta | 1.490 |
Diluted Shares Outstanding | 83.36 |
Cost of Debt | |
Tax Rate | 23.21 |
After-tax Cost of Debt | 8.59% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.631 |
Total Debt | 25.55 |
Total Equity | 694.41 |
Total Capital | 719.97 |
Debt Weighting | 3.55 |
Equity Weighting | 96.45 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 384.82 | 409.14 | 432.08 | 650.42 | 735.74 | 874.75 | 1,040.03 | 1,236.54 | 1,470.17 | 1,747.95 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 20.96 | 42.11 | 34.45 | 94.87 | 113.19 | 93.92 | 111.66 | 132.76 | 157.85 | 187.67 |
Capital Expenditure | -25.49 | -32.04 | -31.30 | -49.94 | -58.69 | -65.35 | -77.70 | -92.38 | -109.83 | -130.59 |
Free Cash Flow | -4.52 | 10.07 | 3.14 | 44.93 | 54.50 | 28.57 | 33.96 | 40.38 | 48.01 | 57.08 |
WACC | ||||||||||
PV LFCF | 25.62 | 27.31 | 29.12 | 31.04 | 33.09 | |||||
SUM PV LFCF | 146.18 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 11.52 |
Free cash flow (t + 1) | 58.23 |
Terminal Value | 611.61 |
Present Value of Terminal Value | 354.58 |
Intrinsic Value
Enterprise Value | 500.75 |
---|---|
Net Debt | -68.88 |
Equity Value | 569.63 |
Shares Outstanding | 83.36 |
Equity Value Per Share | 6.83 |