Discounted Cash Flow (DCF) Analysis Levered
Tricon Residential Inc. (TCN)
$8.01
+0.07 (+0.88%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 30.35 | 39.90 | 512.28 | 492.44 | 2,481.31 | 12,502.92 | 63,000.24 | 317,448.30 | 1,599,572.04 | 8,059,991.93 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -17.32 | -44.30 | 143.01 | 113.77 | -726.36 | -3,660.01 | -18,442.19 | -92,927.31 | -468,246.10 | -2,359,418.45 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -12.09 | -10.02 | -13.03 | -32.87 | -460.01 | -2,317.92 | -11,679.66 | -58,851.96 | -296,545.78 | -1,494,247.55 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -29.41 | -54.32 | 129.99 | 80.90 | -1,186.37 | -5,977.93 | -30,121.85 | -151,779.27 | -764,791.88 | -3,853,665.99 |
Weighted Average Cost Of Capital
| Share price | $ 8.01 |
|---|---|
| Beta | 1.327 |
| Diluted Shares Outstanding | 311.10 |
| Cost of Debt | |
| Tax Rate | 19.12 |
| After-tax Cost of Debt | 2.71% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.962 |
| Total Debt | 3,917.43 |
| Total Equity | 2,491.91 |
| Total Capital | 6,409.35 |
| Debt Weighting | 61.12 |
| Equity Weighting | 38.88 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 30.35 | 39.90 | 512.28 | 492.44 | 2,481.31 | 12,502.92 | 63,000.24 | 317,448.30 | 1,599,572.04 | 8,059,991.93 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -17.32 | -44.30 | 143.01 | 113.77 | -726.36 | -3,660.01 | -18,442.19 | -92,927.31 | -468,246.10 | -2,359,418.45 |
| Capital Expenditure | -12.09 | -10.02 | -13.03 | -32.87 | -460.01 | -2,317.92 | -11,679.66 | -58,851.96 | -296,545.78 | -1,494,247.55 |
| Free Cash Flow | -29.41 | -54.32 | 129.99 | 80.90 | -1,186.37 | -5,977.93 | -30,121.85 | -151,779.27 | -764,791.88 | -3,853,665.99 |
| WACC | ||||||||||
| PV LFCF | -1,186.37 | -5,664.67 | -27,047.67 | -129,147.10 | -616,651.11 | -2,944,383.53 | ||||
| SUM PV LFCF | -3,722,894.08 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.53 |
| Free cash flow (t + 1) | -3,930,739.31 |
| Terminal Value | -111,352,388.42 |
| Present Value of Terminal Value | -85,078,504.25 |
Intrinsic Value
| Enterprise Value | -88,801,398.33 |
|---|---|
| Net Debt | 3,740.54 |
| Equity Value | -88,805,138.87 |
| Shares Outstanding | 311.10 |
| Equity Value Per Share | -285,454.83 |