Discounted Cash Flow (DCF) Analysis Levered
MFA Financial, Inc. (MFA-PB)
$18.8152
+0.12 (+0.62%)
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 | 347.88 | 430.76 | -555.87 | 337.22 | -83.91 | 19.04 | -4.32 | 0.98 | -0.22 | 0.05 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 147.88 | 215.77 | 38.40 | 120.29 | 366.08 | -11.99 | 2.72 | -0.62 | 0.14 | -0.03 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1.13 | -1.88 | -4.86 | -12.05 | -0.30 | -0.12 | 0.03 | -0.01 | 0 | -0 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 146.75 | 213.90 | 33.53 | 108.24 | 365.78 | -12.11 | 2.75 | -0.62 | 0.14 | -0.03 |
Weighted Average Cost Of Capital
Share price | $ 18.8,152 |
---|---|
Beta | 2.004 |
Diluted Shares Outstanding | 129.40 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 7.13% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 13.268 |
Total Debt | 3,630.75 |
Total Equity | 2,434.61 |
Total Capital | 6,065.36 |
Debt Weighting | 59.86 |
Equity Weighting | 40.14 |
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 | 347.88 | 430.76 | -555.87 | 337.22 | -83.91 | 19.04 | -4.32 | 0.98 | -0.22 | 0.05 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 147.88 | 215.77 | 38.40 | 120.29 | 366.08 | -11.99 | 2.72 | -0.62 | 0.14 | -0.03 |
Capital Expenditure | -1.13 | -1.88 | -4.86 | -12.05 | -0.30 | -0.12 | 0.03 | -0.01 | 0 | -0 |
Free Cash Flow | 146.75 | 213.90 | 33.53 | 108.24 | 365.78 | -12.11 | 2.75 | -0.62 | 0.14 | -0.03 |
WACC | ||||||||||
PV LFCF | -11.05 | 2.29 | -0.47 | 0.10 | -0.02 | |||||
SUM PV LFCF | -9.16 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.59 |
Free cash flow (t + 1) | -0.03 |
Terminal Value | -0.43 |
Present Value of Terminal Value | -0.27 |
Intrinsic Value
Enterprise Value | -9.43 |
---|---|
Net Debt | 3,296.57 |
Equity Value | -3,306 |
Shares Outstanding | 129.40 |
Equity Value Per Share | -25.55 |