Discounted Cash Flow (DCF) Analysis Levered
Morguard North American Residential... (MRG-UN.TO)
$17.16
-0.41 (-2.33%)
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 | 241.37 | 245.60 | 248.68 | 245.57 | 278.49 | 289.05 | 300.01 | 311.38 | 323.18 | 335.43 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 59.95 | 62.48 | 50.13 | 63.70 | 75.17 | 71.32 | 74.02 | 76.83 | 79.74 | 82.76 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 71.32 | 74.02 | 76.83 | 79.74 | 82.76 |
Weighted Average Cost Of Capital
Share price | $ 17.16 |
---|---|
Beta | 1.027 |
Diluted Shares Outstanding | 39.11 |
Cost of Debt | |
Tax Rate | 29.24 |
After-tax Cost of Debt | 2.38% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.348 |
Total Debt | 1,483.54 |
Total Equity | 671.16 |
Total Capital | 2,154.69 |
Debt Weighting | 68.85 |
Equity Weighting | 31.15 |
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 | 241.37 | 245.60 | 248.68 | 245.57 | 278.49 | 289.05 | 300.01 | 311.38 | 323.18 | 335.43 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 59.95 | 62.48 | 50.13 | 63.70 | 75.17 | 71.32 | 74.02 | 76.83 | 79.74 | 82.76 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 71.32 | 74.02 | 76.83 | 79.74 | 82.76 |
WACC | ||||||||||
PV LFCF | 55.59 | 55.35 | 55.11 | 54.87 | 54.64 | |||||
SUM PV LFCF | 339.15 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.24 |
Free cash flow (t + 1) | 84.42 |
Terminal Value | 3,768.63 |
Present Value of Terminal Value | 3,062.05 |
Intrinsic Value
Enterprise Value | 3,401.20 |
---|---|
Net Debt | 1,468.90 |
Equity Value | 1,932.30 |
Shares Outstanding | 39.11 |
Equity Value Per Share | 49.40 |