Discounted Cash Flow (DCF) Analysis Levered

RPT Realty (RPT)

$7.56

+0.10 (+1.34%)
All numbers are in Millions, Currency in USD
Stock DCF: -2.98 | 7.56 | overvalue

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 265.08260.62234.09191.71213.49203.56194.09185.06176.45168.24
Revenue (%)
Operating Cash Flow 117.92106.3290.5963.0692.8681.5777.7874.1670.7167.42
Operating Cash Flow (%)
Capital Expenditure -63.26-77.17-56.60-23.12-28.14-41.89-39.94-38.08-36.31-34.62
Capital Expenditure (%)
Free Cash Flow 54.6729.1533.9939.9364.7239.6837.8436.0834.4032.80

Weighted Average Cost Of Capital

Share price $ 7.56
Beta 1.525
Diluted Shares Outstanding 80
Cost of Debt
Tax Rate 2.19
After-tax Cost of Debt 4.01%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.000
Total Debt 902.44
Total Equity 604.78
Total Capital 1,507.22
Debt Weighting 59.87
Equity Weighting 40.13
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 265.08260.62234.09191.71213.49203.56194.09185.06176.45168.24
Operating Cash Flow 117.92106.3290.5963.0692.8681.5777.7874.1670.7167.42
Capital Expenditure -63.26-77.17-56.60-23.12-28.14-41.89-39.94-38.08-36.31-34.62
Free Cash Flow 54.6729.1533.9939.9364.7239.6837.8436.0834.4032.80
WACC
PV LFCF 37.1533.1729.6126.4323.59
SUM PV LFCF 149.95

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.81
Free cash flow (t + 1) 33.46
Terminal Value 695.53
Present Value of Terminal Value 500.33

Intrinsic Value

Enterprise Value 650.28
Net Debt 889.07
Equity Value -238.79
Shares Outstanding 80
Equity Value Per Share -2.98