Discounted Cash Flow (DCF) Analysis Levered
QTS Realty Trust, Inc. (QTS)
$77.98
+0.03 (+0.04%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 402.36 | 446.51 | 450.52 | 480.82 | 539.37 | 580.86 | 625.55 | 673.67 | 725.50 | 781.31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 153.79 | 170.32 | 191.27 | 199.49 | 299.72 | 250.79 | 270.09 | 290.87 | 313.24 | 337.34 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -279.90 | -307.31 | -484.30 | -361.16 | -773.81 | -539.58 | -581.10 | -625.80 | -673.94 | -725.79 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -126.11 | -136.99 | -293.03 | -161.67 | -474.10 | -288.79 | -311.01 | -334.93 | -360.70 | -388.45 |
Weighted Average Cost Of Capital
| Share price | $ 77.98 |
|---|---|
| Beta | 0.558 |
| Diluted Shares Outstanding | 48.38 |
| Cost of Debt | |
| Tax Rate | -5.94 |
| After-tax Cost of Debt | 1.64% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.116 |
| Total Debt | 1,869.49 |
| Total Equity | 3,773.05 |
| Total Capital | 5,642.54 |
| Debt Weighting | 33.13 |
| Equity Weighting | 66.87 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 402.36 | 446.51 | 450.52 | 480.82 | 539.37 | 580.86 | 625.55 | 673.67 | 725.50 | 781.31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 153.79 | 170.32 | 191.27 | 199.49 | 299.72 | 250.79 | 270.09 | 290.87 | 313.24 | 337.34 |
| Capital Expenditure | -279.90 | -307.31 | -484.30 | -361.16 | -773.81 | -539.58 | -581.10 | -625.80 | -673.94 | -725.79 |
| Free Cash Flow | -126.11 | -136.99 | -293.03 | -161.67 | -474.10 | -288.79 | -311.01 | -334.93 | -360.70 | -388.45 |
| WACC | ||||||||||
| PV LFCF | -276.01 | -284.09 | -292.41 | -300.97 | -309.78 | |||||
| SUM PV LFCF | -1,463.26 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.63 |
| Free cash flow (t + 1) | -396.22 |
| Terminal Value | -15,065.29 |
| Present Value of Terminal Value | -12,014.25 |
Intrinsic Value
| Enterprise Value | -13,477.50 |
|---|---|
| Net Debt | 1,846.72 |
| Equity Value | -15,324.22 |
| Shares Outstanding | 48.38 |
| Equity Value Per Share | -316.72 |