Discounted Cash Flow (DCF) Analysis Levered

Oxford Lane Capital Corp. (OXLC)

$5.08

-0.05 (-0.97%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,152.11 | 5.08 | undervalue

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 40.42-18.57-288.16293.35130.15471.181,705.856,175.8522,359.0480,948.59
Revenue (%)
Operating Cash Flow -71.15-83.40-271.22-7.94-385.5064.31232.82842.893,051.6011,047.99
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----64.31232.82842.893,051.6011,047.99

Weighted Average Cost Of Capital

Share price $ 5.08
Beta 1.107
Diluted Shares Outstanding 92.34
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 11.40%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.635
Total Debt 193.58
Total Equity 469.06
Total Capital 662.65
Debt Weighting 29.21
Equity Weighting 70.79
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 40.42-18.57-288.16293.35130.15471.181,705.856,175.8522,359.0480,948.59
Operating Cash Flow -71.15-83.40-271.22-7.94-385.5064.31232.82842.893,051.6011,047.99
Capital Expenditure ----------
Free Cash Flow -----64.31232.82842.893,051.6011,047.99
WACC
PV LFCF 58.76194.38643.052,127.277,037.25
SUM PV LFCF 10,060.71

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.44
Free cash flow (t + 1) 11,268.95
Terminal Value 151,464.37
Present Value of Terminal Value 96,478.39

Intrinsic Value

Enterprise Value 106,539.10
Net Debt 158.91
Equity Value 106,380.19
Shares Outstanding 92.34
Equity Value Per Share 1,152.11