Discounted Cash Flow (DCF) Analysis Levered
PIMCO California Municipal Income F... (PCQ)
$9.82
-0.01 (-0.10%)
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 | 26.47 | 0.04 | 36.87 | 17.93 | 11.17 | 2,784.88 | 694,509.83 | 173,200,854.11 | 43,193,824,630.52 | 10,771,924,283,036.14 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -32.32 | 12.78 | 26.33 | 46.69 | 9.69 | 193,959.22 | 48,370,665.27 | 12,062,954,560.89 | 3,008,328,951,445.45 | 750,234,367,079,859.63 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | - | - | - | - | - | 193,959.22 | 48,370,665.27 | 12,062,954,560.89 | 3,008,328,951,445.45 | 750,234,367,079,859.63 |
Weighted Average Cost Of Capital
| Share price | $ 9.82 |
|---|---|
| Beta | 0.320 |
| Diluted Shares Outstanding | 18.70 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 1.09% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.202 |
| Total Debt | 58.32 |
| Total Equity | 183.62 |
| Total Capital | 241.95 |
| Debt Weighting | 24.11 |
| Equity Weighting | 75.89 |
| 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 | 26.47 | 0.04 | 36.87 | 17.93 | 11.17 | 2,784.88 | 694,509.83 | 173,200,854.11 | 43,193,824,630.52 | 10,771,924,283,036.14 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -32.32 | 12.78 | 26.33 | 46.69 | 9.69 | 193,959.22 | 48,370,665.27 | 12,062,954,560.89 | 3,008,328,951,445.45 | 750,234,367,079,859.63 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | 193,959.22 | 48,370,665.27 | 12,062,954,560.89 | 3,008,328,951,445.45 | 750,234,367,079,859.63 |
| WACC | ||||||||||
| PV LFCF | 186,123.42 | 44,541,339.01 | 10,659,221,922.73 | 2,550,866,554,920 | 610,449,827,217,905.25 | |||||
| SUM PV LFCF | 613,011,397,722,210.38 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.21 |
| Free cash flow (t + 1) | 765,239,054,421,456.88 |
| Terminal Value | 34,626,201,557,531,988 |
| Present Value of Terminal Value | 28,174,607,410,057,172 |
Intrinsic Value
| Enterprise Value | 28,787,618,807,779,384 |
|---|---|
| Net Debt | 58.32 |
| Equity Value | 28,787,618,807,779,324 |
| Shares Outstanding | 18.70 |
| Equity Value Per Share | 1,539,536,322,600,734.50 |