Discounted Cash Flow (DCF) Analysis Levered
Transcontinental Realty Investors, ... (TCI)
$38.11
+0.95 (+2.56%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 120.95 | 47.97 | 57.02 | 40.77 | 36.66 | 29.32 | 23.45 | 18.76 | 15.01 | 12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -181.19 | -35.75 | 5.63 | -10.99 | -0.05 | -14.16 | -11.33 | -9.06 | -7.25 | -5.80 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -78.87 | -8.53 | -23.66 | -16.92 | -15.21 | -12.17 | -9.73 | -7.78 | -6.23 | -4.98 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -260.05 | -44.28 | -18.03 | -27.90 | -15.26 | -26.33 | -21.06 | -16.85 | -13.47 | -10.78 |
Weighted Average Cost Of Capital
| Share price | $ 38.11 |
|---|---|
| Beta | 0.585 |
| Diluted Shares Outstanding | 8.64 |
| Cost of Debt | |
| Tax Rate | 18.06 |
| After-tax Cost of Debt | 8.80% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.501 |
| Total Debt | 184.46 |
| Total Equity | 329.24 |
| Total Capital | 513.71 |
| Debt Weighting | 35.91 |
| Equity Weighting | 64.09 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 120.95 | 47.97 | 57.02 | 40.77 | 36.66 | 29.32 | 23.45 | 18.76 | 15.01 | 12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -181.19 | -35.75 | 5.63 | -10.99 | -0.05 | -14.16 | -11.33 | -9.06 | -7.25 | -5.80 |
| Capital Expenditure | -78.87 | -8.53 | -23.66 | -16.92 | -15.21 | -12.17 | -9.73 | -7.78 | -6.23 | -4.98 |
| Free Cash Flow | -260.05 | -44.28 | -18.03 | -27.90 | -15.26 | -26.33 | -21.06 | -16.85 | -13.47 | -10.78 |
| WACC | ||||||||||
| PV LFCF | -24.53 | -18.28 | -13.62 | -10.15 | -7.57 | |||||
| SUM PV LFCF | -74.16 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.33 |
| Free cash flow (t + 1) | -10.99 |
| Terminal Value | -206.25 |
| Present Value of Terminal Value | -144.81 |
Intrinsic Value
| Enterprise Value | -218.97 |
|---|---|
| Net Debt | 71.04 |
| Equity Value | -290 |
| Shares Outstanding | 8.64 |
| Equity Value Per Share | -33.57 |