Discounted Cash Flow (DCF) Analysis Levered
Rattler Midstream LP (RTLR)
$15.22
0.00 (0.00%)
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 | 39.30 | 184.47 | 447.67 | 423.91 | 396.34 | 892.08 | 2,007.88 | 4,519.30 | 10,171.99 | 22,894.96 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 0.01 | 173.43 | 218.19 | 229.90 | 248.10 | 463.18 | 1,042.52 | 2,346.50 | 5,281.46 | 11,887.45 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | - | -164.88 | -241.79 | -136.82 | -192.17 | -499.90 | -1,125.17 | -2,532.52 | -5,700.15 | -12,829.83 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 0.01 | 8.56 | -23.59 | 93.08 | 55.93 | -36.72 | -82.65 | -186.02 | -418.69 | -942.38 |
Weighted Average Cost Of Capital
| Share price | $ 15.22 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 40.68 |
| Cost of Debt | |
| Tax Rate | -15.06 |
| After-tax Cost of Debt | 4.16% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.156 |
| Total Debt | 687.96 |
| Total Equity | 619.18 |
| Total Capital | 1,307.14 |
| Debt Weighting | 52.63 |
| Equity Weighting | 47.37 |
| 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 | 39.30 | 184.47 | 447.67 | 423.91 | 396.34 | 892.08 | 2,007.88 | 4,519.30 | 10,171.99 | 22,894.96 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.01 | 173.43 | 218.19 | 229.90 | 248.10 | 463.18 | 1,042.52 | 2,346.50 | 5,281.46 | 11,887.45 |
| Capital Expenditure | - | -164.88 | -241.79 | -136.82 | -192.17 | -499.90 | -1,125.17 | -2,532.52 | -5,700.15 | -12,829.83 |
| Free Cash Flow | 0.01 | 8.56 | -23.59 | 93.08 | 55.93 | -36.72 | -82.65 | -186.02 | -418.69 | -942.38 |
| WACC | ||||||||||
| PV LFCF | -35.25 | -76.18 | -164.61 | -355.70 | -768.64 | |||||
| SUM PV LFCF | -1,400.38 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.16 |
| Free cash flow (t + 1) | -961.23 |
| Terminal Value | -44,501.28 |
| Present Value of Terminal Value | -36,296.74 |
Intrinsic Value
| Enterprise Value | -37,697.12 |
|---|---|
| Net Debt | 668.06 |
| Equity Value | -38,365.18 |
| Shares Outstanding | 40.68 |
| Equity Value Per Share | -943.05 |