Discounted Cash Flow (DCF) Analysis Levered

Nuveen California AMT-Free Quality ... (NKX)

$14.01

+0.07 (+0.50%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,551.39 | 14.01 | 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 6.5036.8029.41132.65-3.41-9.34-25.54-69.86-191.11-522.75
Revenue (%)
Operating Cash Flow -57.8510.5344.3425.2132.6830.7884.19230.30629.961,723.20
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----30.7884.19230.30629.961,723.20

Weighted Average Cost Of Capital

Share price $ 14.01
Beta 0.265
Diluted Shares Outstanding 47.52
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.017
Total Debt -
Total Equity 665.70
Total Capital 665.70
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 6.5036.8029.41132.65-3.41-9.34-25.54-69.86-191.11-522.75
Operating Cash Flow -57.8510.5344.3425.2132.6830.7884.19230.30629.961,723.20
Capital Expenditure ----------
Free Cash Flow -----30.7884.19230.30629.961,723.20
WACC
PV LFCF 29.5977.81204.62538.081,414.98
SUM PV LFCF 2,265.08

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.02
Free cash flow (t + 1) 1,757.66
Terminal Value 87,012.84
Present Value of Terminal Value 71,449.49

Intrinsic Value

Enterprise Value 73,714.57
Net Debt -0.87
Equity Value 73,715.43
Shares Outstanding 47.52
Equity Value Per Share 1,551.39