Discounted Cash Flow (DCF) Analysis Levered
Brigham Minerals, Inc. (MNRL)
$32.5
-0.52 (-1.57%)
All numbers are in Millions, Currency in USD
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 | 40.91 | 67.26 | 101.52 | 91.72 | 161.22 | 234.36 | 340.68 | 495.23 | 719.90 | 1,046.49 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 29.40 | 31.44 | 69.02 | 75.26 | 109.20 | 157.67 | 229.21 | 333.19 | 484.35 | 704.08 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -102.75 | -196.33 | -219.95 | -66.99 | -103.60 | -420.44 | -611.18 | -888.45 | -1,291.52 | -1,877.43 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -73.35 | -164.88 | -150.93 | 8.27 | 5.60 | -262.77 | -381.98 | -555.26 | -807.17 | -1,173.36 |
Weighted Average Cost Of Capital
| Share price | $ 32.5 |
|---|---|
| Beta | 1.869 |
| Diluted Shares Outstanding | 38.18 |
| Cost of Debt | |
| Tax Rate | 40.34 |
| After-tax Cost of Debt | 1.01% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.341 |
| Total Debt | 99.92 |
| Total Equity | 1,240.79 |
| Total Capital | 1,340.70 |
| Debt Weighting | 7.45 |
| Equity Weighting | 92.55 |
| 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 | 40.91 | 67.26 | 101.52 | 91.72 | 161.22 | 234.36 | 340.68 | 495.23 | 719.90 | 1,046.49 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 29.40 | 31.44 | 69.02 | 75.26 | 109.20 | 157.67 | 229.21 | 333.19 | 484.35 | 704.08 |
| Capital Expenditure | -102.75 | -196.33 | -219.95 | -66.99 | -103.60 | -420.44 | -611.18 | -888.45 | -1,291.52 | -1,877.43 |
| Free Cash Flow | -73.35 | -164.88 | -150.93 | 8.27 | 5.60 | -262.77 | -381.98 | -555.26 | -807.17 | -1,173.36 |
| WACC | ||||||||||
| PV LFCF | -189.56 | -247.14 | -322.20 | -420.06 | -547.65 | |||||
| SUM PV LFCF | -2,146.57 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.50 |
| Free cash flow (t + 1) | -1,196.82 |
| Terminal Value | -12,598.15 |
| Present Value of Terminal Value | -7,310.25 |
Intrinsic Value
| Enterprise Value | -9,456.82 |
|---|---|
| Net Debt | 79.10 |
| Equity Value | -9,535.92 |
| Shares Outstanding | 38.18 |
| Equity Value Per Share | -249.78 |