Discounted Cash Flow (DCF) Analysis Levered
Tortoise Midstream Energy Fund, Inc... (NTG)
$31.954
+0.22 (+0.69%)
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 | 21.97 | -137.88 | -485.50 | 75.60 | 67.46 | -34.04 | 17.17 | -8.66 | 4.37 | -2.21 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -209.92 | 161.43 | 420.96 | 21.80 | 27.52 | 74.17 | -37.42 | 18.88 | -9.52 | 4.81 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 74.17 | -37.42 | 18.88 | -9.52 | 4.81 |
Weighted Average Cost Of Capital
Share price | $ 31.954 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 6.30 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 3.60% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 3.810 |
Total Debt | 42.60 |
Total Equity | 201.29 |
Total Capital | 243.89 |
Debt Weighting | 17.47 |
Equity Weighting | 82.53 |
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 | 21.97 | -137.88 | -485.50 | 75.60 | 67.46 | -34.04 | 17.17 | -8.66 | 4.37 | -2.21 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -209.92 | 161.43 | 420.96 | 21.80 | 27.52 | 74.17 | -37.42 | 18.88 | -9.52 | 4.81 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 74.17 | -37.42 | 18.88 | -9.52 | 4.81 |
WACC | ||||||||||
PV LFCF | 71.48 | -34.75 | 16.90 | -8.21 | 3.99 | |||||
SUM PV LFCF | 49.40 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.77 |
Free cash flow (t + 1) | 4.90 |
Terminal Value | 276.91 |
Present Value of Terminal Value | 230.14 |
Intrinsic Value
Enterprise Value | 279.54 |
---|---|
Net Debt | 42.60 |
Equity Value | 236.94 |
Shares Outstanding | 6.30 |
Equity Value Per Share | 37.61 |