Discounted Cash Flow (DCF) Analysis Levered

SandRidge Energy, Inc. (SD)

$20.25

+0.13 (+0.65%)
All numbers are in Millions, Currency in USD
Stock DCF: 5.25 | 20.25 | 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 357.30349.39266.85114.98168.88153.74139.95127.40115.98105.58
Revenue (%)
Operating Cash Flow 181.18145.51121.3236.16110.2672.1265.6659.7754.4149.53
Operating Cash Flow (%)
Capital Expenditure -219.25-187.05-191.68-8.76-11.64-61.88-56.33-51.28-46.68-42.49
Capital Expenditure (%)
Free Cash Flow -38.07-41.53-70.3527.4098.6210.249.338.497.737.04

Weighted Average Cost Of Capital

Share price $ 20.25
Beta 2.365
Diluted Shares Outstanding 37.27
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.670
Total Debt -
Total Equity 754.74
Total Capital 754.74
Debt Weighting 0.00
Equity Weighting 100.00
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 357.30349.39266.85114.98168.88153.74139.95127.40115.98105.58
Operating Cash Flow 181.18145.51121.3236.16110.2672.1265.6659.7754.4149.53
Capital Expenditure -219.25-187.05-191.68-8.76-11.64-61.88-56.33-51.28-46.68-42.49
Free Cash Flow -38.07-41.53-70.3527.4098.6210.249.338.497.737.04
WACC
PV LFCF 8.937.095.634.473.55
SUM PV LFCF 29.68

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 14.67
Free cash flow (t + 1) 7.18
Terminal Value 56.64
Present Value of Terminal Value 28.57

Intrinsic Value

Enterprise Value 58.24
Net Debt -137.26
Equity Value 195.50
Shares Outstanding 37.27
Equity Value Per Share 5.25