Discounted Cash Flow (DCF) Analysis Levered
John Hancock Premium Dividend Fund (PDT)
$9.62
+0.02 (+0.21%)
All numbers are in Millions, Currency in USD
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 | 6.23 | 128.38 | -80.68 | 159.35 | -52.88 | -233.74 | -1,033.14 | -4,566.55 | -20,184.53 | -89,217.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 80.33 | 56.94 | 66.94 | 56.70 | 52.93 | -554.83 | -2,452.39 | -10,839.74 | -47,912.53 | -211,777.17 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | - | - | - | - | - | -554.83 | -2,452.39 | -10,839.74 | -47,912.53 | -211,777.17 |
Weighted Average Cost Of Capital
| Share price | $ 9.62 |
|---|---|
| Beta | 0.921 |
| Diluted Shares Outstanding | 48.78 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.919 |
| Total Debt | - |
| Total Equity | 469.27 |
| Total Capital | 469.27 |
| Debt Weighting | 0.00 |
| Equity Weighting | 100.00 |
| 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 | 6.23 | 128.38 | -80.68 | 159.35 | -52.88 | -233.74 | -1,033.14 | -4,566.55 | -20,184.53 | -89,217.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 80.33 | 56.94 | 66.94 | 56.70 | 52.93 | -554.83 | -2,452.39 | -10,839.74 | -47,912.53 | -211,777.17 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | -554.83 | -2,452.39 | -10,839.74 | -47,912.53 | -211,777.17 |
| WACC | ||||||||||
| PV LFCF | -509.39 | -2,067.16 | -8,388.73 | -34,042.27 | -138,146.85 | |||||
| SUM PV LFCF | -183,154.39 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.92 |
| Free cash flow (t + 1) | -216,012.71 |
| Terminal Value | -3,121,570.97 |
| Present Value of Terminal Value | -2,036,268.53 |
Intrinsic Value
| Enterprise Value | -2,219,422.93 |
|---|---|
| Net Debt | -0.13 |
| Equity Value | -2,219,422.80 |
| Shares Outstanding | 48.78 |
| Equity Value Per Share | -45,497.88 |