Discounted Cash Flow (DCF) Analysis Levered
MFA Financial, Inc. (MFA-PB)
$17.6049
-0.19 (-1.04%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 347.88 | 430.76 | -555.87 | 337.22 | -74.05 | 16.26 | -3.57 | 0.78 | -0.17 | 0.04 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 147.88 | 215.77 | 38.40 | 120.29 | 366.08 | -12.13 | 2.66 | -0.59 | 0.13 | -0.03 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1.13 | -1.88 | -4.86 | -12.05 | 0.64 | -0.14 | 0.03 | -0.01 | 0 | -0 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 146.75 | 213.90 | 33.53 | 108.24 | 366.72 | -12.27 | 2.69 | -0.59 | 0.13 | -0.03 |
Weighted Average Cost Of Capital
Share price | $ 17.6,049 |
---|---|
Beta | 1.995 |
Diluted Shares Outstanding | 129.40 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 5.00% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 12.907 |
Total Debt | - |
Total Equity | 2,278 |
Total Capital | 2,278 |
Debt Weighting | 0.00 |
Equity Weighting | 100.00 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 347.88 | 430.76 | -555.87 | 337.22 | -74.05 | 16.26 | -3.57 | 0.78 | -0.17 | 0.04 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 147.88 | 215.77 | 38.40 | 120.29 | 366.08 | -12.13 | 2.66 | -0.59 | 0.13 | -0.03 |
Capital Expenditure | -1.13 | -1.88 | -4.86 | -12.05 | 0.64 | -0.14 | 0.03 | -0.01 | 0 | -0 |
Free Cash Flow | 146.75 | 213.90 | 33.53 | 108.24 | 366.72 | -12.27 | 2.69 | -0.59 | 0.13 | -0.03 |
WACC | ||||||||||
PV LFCF | 366.72 | -10.87 | 2.11 | -0.41 | 0.08 | -0.02 | ||||
SUM PV LFCF | -9.10 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 12.91 |
Free cash flow (t + 1) | -0.03 |
Terminal Value | -0.27 |
Present Value of Terminal Value | -0.15 |
Intrinsic Value
Enterprise Value | -9.25 |
---|---|
Net Debt | -334.18 |
Equity Value | 324.94 |
Shares Outstanding | 129.40 |
Equity Value Per Share | 2.51 |