Discounted Cash Flow (DCF) Analysis Levered

NorthWest Healthcare Properties Rea... (NWH-UN.TO)

$9.88

-0.17 (-1.69%)
All numbers are in Millions, Currency in USD
Stock DCF: 23.72 | 9.88 | 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 313.97349.59366.06373.82374.61391.84409.85428.69448.40469.02
Revenue (%)
Operating Cash Flow 90.8493.31115.82188.77124.97134.10140.27146.72153.46160.52
Operating Cash Flow (%)
Capital Expenditure -1.75-0.41-0.38-0.23-0.48-0.76-0.79-0.83-0.87-0.91
Capital Expenditure (%)
Free Cash Flow 89.0992.90115.44188.53124.48133.34139.47145.89152.59159.61

Weighted Average Cost Of Capital

Share price $ 9.88
Beta 0.830
Diluted Shares Outstanding 175.98
Cost of Debt
Tax Rate 40.92
After-tax Cost of Debt 2.05%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.518
Total Debt 2,944.20
Total Equity 1,738.66
Total Capital 4,682.86
Debt Weighting 62.87
Equity Weighting 37.13
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 313.97349.59366.06373.82374.61391.84409.85428.69448.40469.02
Operating Cash Flow 90.8493.31115.82188.77124.97134.10140.27146.72153.46160.52
Capital Expenditure -1.75-0.41-0.38-0.23-0.48-0.76-0.79-0.83-0.87-0.91
Free Cash Flow 89.0992.90115.44188.53124.48133.34139.47145.89152.59159.61
WACC
PV LFCF 128.12128.75129.39130.04130.68
SUM PV LFCF 646.98

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.08
Free cash flow (t + 1) 162.80
Terminal Value 7,826.91
Present Value of Terminal Value 6,408.46

Intrinsic Value

Enterprise Value 7,055.44
Net Debt 2,881.50
Equity Value 4,173.93
Shares Outstanding 175.98
Equity Value Per Share 23.72