Discounted Cash Flow (DCF) Analysis Levered

Macquarie/First Trust Global Infras... (MFD)

$8.15

-0.21 (-2.51%)
All numbers are in Millions, Currency in USD
Stock DCF: -3.57 | 8.15 | overvalue

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 13.0412.5410.25-5.8912.71-3.030.72-0.170.04-0.01
Revenue (%)
Operating Cash Flow 10.2015.718.6420.36-8.260.74-0.180.04-0.010
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----0.74-0.180.04-0.010

Weighted Average Cost Of Capital

Share price $ 8.15
Beta 0.944
Diluted Shares Outstanding 8.55
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1.12%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.282
Total Debt 33.25
Total Equity 69.66
Total Capital 102.91
Debt Weighting 32.31
Equity Weighting 67.69
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 13.0412.5410.25-5.8912.71-3.030.72-0.170.04-0.01
Operating Cash Flow 10.2015.718.6420.36-8.260.74-0.180.04-0.010
Capital Expenditure ----------
Free Cash Flow -----0.74-0.180.04-0.010
WACC
PV LFCF 0.70-0.160.04-0.010
SUM PV LFCF 0.57

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.97
Free cash flow (t + 1) 0
Terminal Value 0.06
Present Value of Terminal Value 0.05

Intrinsic Value

Enterprise Value 0.62
Net Debt 31.16
Equity Value -30.54
Shares Outstanding 8.55
Equity Value Per Share -3.57