Discounted Cash Flow (DCF) Analysis Levered

Nuveen Taxable Municipal Income Fun... (NBB)

$16.99

+0.13 (+0.77%)
All numbers are in Millions, Currency in USD
Stock DCF: 47,617.56 | 16.99 | undervalue

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 47.7821.67-7.3591.95-24.6878.17-247.55783.98-2,482.807,862.86
Revenue (%)
Operating Cash Flow 32.66164.40-27.99-14.27-14.97195.89-620.381,964.72-6,222.1319,705.08
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----195.89-620.381,964.72-6,222.1319,705.08

Weighted Average Cost Of Capital

Share price $ 16.99
Beta 0.283
Diluted Shares Outstanding 27.42
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.79%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.731
Total Debt 260.42
Total Equity 465.86
Total Capital 726.28
Debt Weighting 35.86
Equity Weighting 64.14
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 47.7821.67-7.3591.95-24.6878.17-247.55783.98-2,482.807,862.86
Operating Cash Flow 32.66164.40-27.99-14.27-14.97195.89-620.381,964.72-6,222.1319,705.08
Capital Expenditure ----------
Free Cash Flow -----195.89-620.381,964.72-6,222.1319,705.08
WACC
PV LFCF 189.60-581.161,781.34-5,460.1116,736.18
SUM PV LFCF 12,665.85

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.32
Free cash flow (t + 1) 20,099.18
Terminal Value 1,522,665.38
Present Value of Terminal Value 1,293,250

Intrinsic Value

Enterprise Value 1,305,915.85
Net Debt 260.42
Equity Value 1,305,655.43
Shares Outstanding 27.42
Equity Value Per Share 47,617.56