Discounted Cash Flow (DCF) Analysis Levered
Aura Minerals Inc. (ORA.TO)
$10.78
+0.09 (+0.84%)
All numbers are in Millions, Currency in USD
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 | 157.71 | 157.70 | 226.20 | 299.87 | 444.56 | 582.65 | 763.63 | 1,000.83 | 1,311.71 | 1,719.15 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 6.54 | 11.28 | 36.41 | 90.36 | 131.19 | 101.42 | 132.93 | 174.22 | 228.33 | 299.26 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -8.81 | -31.50 | -25.79 | -51.97 | -79.47 | -84.10 | -110.22 | -144.46 | -189.33 | -248.14 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -2.27 | -20.23 | 10.62 | 38.39 | 51.72 | 17.32 | 22.71 | 29.76 | 39 | 51.12 |
Weighted Average Cost Of Capital
Share price | $ 10.78 |
---|---|
Beta | 0.349 |
Diluted Shares Outstanding | 72.46 |
Cost of Debt | |
Tax Rate | 55.94 |
After-tax Cost of Debt | 3.67% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 5.286 |
Total Debt | 159.14 |
Total Equity | 781.17 |
Total Capital | 940.31 |
Debt Weighting | 16.92 |
Equity Weighting | 83.08 |
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 | 157.71 | 157.70 | 226.20 | 299.87 | 444.56 | 582.65 | 763.63 | 1,000.83 | 1,311.71 | 1,719.15 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 6.54 | 11.28 | 36.41 | 90.36 | 131.19 | 101.42 | 132.93 | 174.22 | 228.33 | 299.26 |
Capital Expenditure | -8.81 | -31.50 | -25.79 | -51.97 | -79.47 | -84.10 | -110.22 | -144.46 | -189.33 | -248.14 |
Free Cash Flow | -2.27 | -20.23 | 10.62 | 38.39 | 51.72 | 17.32 | 22.71 | 29.76 | 39 | 51.12 |
WACC | ||||||||||
PV LFCF | 16.50 | 20.59 | 25.70 | 32.07 | 40.03 | |||||
SUM PV LFCF | 134.89 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.01 |
Free cash flow (t + 1) | 52.14 |
Terminal Value | 1,732.19 |
Present Value of Terminal Value | 1,356.57 |
Intrinsic Value
Enterprise Value | 1,491.47 |
---|---|
Net Debt | -2.35 |
Equity Value | 1,493.82 |
Shares Outstanding | 72.46 |
Equity Value Per Share | 20.61 |