Discounted Cash Flow (DCF) Analysis Levered
TransGlobe Energy Corporation (TGL.TO)
$4.18
-0.08 (-1.88%)
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 | 148.46 | 299.14 | 140.10 | 188.77 | 169.01 | 199.68 | 235.92 | 278.74 | 329.33 | 389.10 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 59.45 | 69.19 | 44.84 | 31.71 | 44.96 | 55.34 | 65.39 | 77.25 | 91.28 | 107.84 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -37.21 | -40.12 | -36 | -7.06 | -26.73 | -33.44 | -39.51 | -46.68 | -55.15 | -65.16 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 22.24 | 29.07 | 8.83 | 24.65 | 18.24 | 21.91 | 25.88 | 30.58 | 36.13 | 42.69 |
Weighted Average Cost Of Capital
Share price | $ 4.18 |
---|---|
Beta | 2.312 |
Diluted Shares Outstanding | 73.34 |
Cost of Debt | |
Tax Rate | 35.72 |
After-tax Cost of Debt | 19.10% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 13.738 |
Total Debt | 3.84 |
Total Equity | 306.57 |
Total Capital | 310.41 |
Debt Weighting | 1.24 |
Equity Weighting | 98.76 |
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 | 148.46 | 299.14 | 140.10 | 188.77 | 169.01 | 199.68 | 235.92 | 278.74 | 329.33 | 389.10 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 59.45 | 69.19 | 44.84 | 31.71 | 44.96 | 55.34 | 65.39 | 77.25 | 91.28 | 107.84 |
Capital Expenditure | -37.21 | -40.12 | -36 | -7.06 | -26.73 | -33.44 | -39.51 | -46.68 | -55.15 | -65.16 |
Free Cash Flow | 22.24 | 29.07 | 8.83 | 24.65 | 18.24 | 21.91 | 25.88 | 30.58 | 36.13 | 42.69 |
WACC | ||||||||||
PV LFCF | 19.25 | 19.99 | 20.75 | 21.54 | 22.37 | |||||
SUM PV LFCF | 103.89 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 13.80 |
Free cash flow (t + 1) | 43.54 |
Terminal Value | 368.99 |
Present Value of Terminal Value | 193.33 |
Intrinsic Value
Enterprise Value | 297.22 |
---|---|
Net Debt | -34.09 |
Equity Value | 331.31 |
Shares Outstanding | 73.34 |
Equity Value Per Share | 4.52 |