Discounted Cash Flow (DCF) Analysis Levered

Nuveen Arizona Quality Municipal In... (NAZ)

$12.5797

+0.01 (+0.08%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,136,867.04 | 12.5797 | undervalue

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 0.105.976.9222.131.1217.62278.024,385.7069,182.741,091,331.65
Revenue (%)
Operating Cash Flow -0.435.141.685.566.119.03142.372,245.8035,426.62558,841.62
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----9.03142.372,245.8035,426.62558,841.62

Weighted Average Cost Of Capital

Share price $ 12.5,797
Beta 0.318
Diluted Shares Outstanding 11.55
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.452
Total Debt -
Total Equity 145.30
Total Capital 145.30
Debt Weighting 0.00
Equity Weighting 100.00
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 0.105.976.9222.131.1217.62278.024,385.7069,182.741,091,331.65
Operating Cash Flow -0.435.141.685.566.119.03142.372,245.8035,426.62558,841.62
Capital Expenditure ----------
Free Cash Flow -----9.03142.372,245.8035,426.62558,841.62
WACC
PV LFCF 6.92103.551,548.9823,171.65346,632.66
SUM PV LFCF 459,306.71

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.45
Free cash flow (t + 1) 570,018.45
Terminal Value 16,522,273.85
Present Value of Terminal Value 12,671,758.74

Intrinsic Value

Enterprise Value 13,131,065.45
Net Debt -0.10
Equity Value 13,131,065.55
Shares Outstanding 11.55
Equity Value Per Share 1,136,867.04