Discounted Cash Flow (DCF) Analysis Levered
New York Mortgage Trust, Inc. (NYMTP)
$25.3205
+0.00 (+0.00%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 105.04 | 131.26 | 146.47 | 201.19 | -231.90 | -149.95 | -96.96 | -62.69 | -40.54 | -26.21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 53.84 | 29.33 | 24.18 | 35.10 | 110.75 | -17.93 | -11.60 | -7.50 | -4.85 | -3.14 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | 7.03 | 38.31 | 8.46 | -0.21 | -13.42 | -8.68 | -5.61 | -3.63 | -2.35 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 53.84 | 36.36 | 62.49 | 43.56 | 110.55 | -31.36 | -20.28 | -13.11 | -8.48 | -5.48 |
Weighted Average Cost Of Capital
| Share price | $ 25.3,205 |
|---|---|
| Beta | 1.900 |
| Diluted Shares Outstanding | 109.44 |
| Cost of Debt | |
| Tax Rate | -0.43 |
| After-tax Cost of Debt | 12.37% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.766 |
| Total Debt | 1,803.98 |
| Total Equity | 2,771.20 |
| Total Capital | 4,575.19 |
| Debt Weighting | 39.43 |
| Equity Weighting | 60.57 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 105.04 | 131.26 | 146.47 | 201.19 | -231.90 | -149.95 | -96.96 | -62.69 | -40.54 | -26.21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 53.84 | 29.33 | 24.18 | 35.10 | 110.75 | -17.93 | -11.60 | -7.50 | -4.85 | -3.14 |
| Capital Expenditure | - | 7.03 | 38.31 | 8.46 | -0.21 | -13.42 | -8.68 | -5.61 | -3.63 | -2.35 |
| Free Cash Flow | 53.84 | 36.36 | 62.49 | 43.56 | 110.55 | -31.36 | -20.28 | -13.11 | -8.48 | -5.48 |
| WACC | ||||||||||
| PV LFCF | -28 | -16.16 | -9.33 | -5.39 | -3.11 | |||||
| SUM PV LFCF | -61.99 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.00 |
| Free cash flow (t + 1) | -5.59 |
| Terminal Value | -55.91 |
| Present Value of Terminal Value | -31.73 |
Intrinsic Value
| Enterprise Value | -93.72 |
|---|---|
| Net Debt | 1,510.80 |
| Equity Value | -1,604.52 |
| Shares Outstanding | 109.44 |
| Equity Value Per Share | -14.66 |