Discounted Cash Flow (DCF) Analysis Levered
Plaza Retail REIT (PLZ-UN.TO)
$4.38
+0.03 (+0.69%)
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 | 102.89 | 104.02 | 112.46 | 106.90 | 110.63 | 112.78 | 114.97 | 117.20 | 119.47 | 121.79 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 35.78 | 33.62 | 42.65 | 31.72 | 48.21 | 40.21 | 40.99 | 41.79 | 42.60 | 43.43 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 40.21 | 40.99 | 41.79 | 42.60 | 43.43 |
Weighted Average Cost Of Capital
Share price | $ 4.38 |
---|---|
Beta | 1.079 |
Diluted Shares Outstanding | 101.81 |
Cost of Debt | |
Tax Rate | 1.62 |
After-tax Cost of Debt | 3.93% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.941 |
Total Debt | 679.24 |
Total Equity | 445.91 |
Total Capital | 1,125.15 |
Debt Weighting | 60.37 |
Equity Weighting | 39.63 |
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 | 102.89 | 104.02 | 112.46 | 106.90 | 110.63 | 112.78 | 114.97 | 117.20 | 119.47 | 121.79 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 35.78 | 33.62 | 42.65 | 31.72 | 48.21 | 40.21 | 40.99 | 41.79 | 42.60 | 43.43 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 40.21 | 40.99 | 41.79 | 42.60 | 43.43 |
WACC | ||||||||||
PV LFCF | 38.11 | 36.82 | 35.57 | 34.36 | 33.19 | |||||
SUM PV LFCF | 178.05 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.52 |
Free cash flow (t + 1) | 44.29 |
Terminal Value | 1,258.35 |
Present Value of Terminal Value | 961.90 |
Intrinsic Value
Enterprise Value | 1,139.94 |
---|---|
Net Debt | 671.18 |
Equity Value | 468.77 |
Shares Outstanding | 101.81 |
Equity Value Per Share | 4.60 |