Discounted Cash Flow (DCF) Analysis Levered

TeraGo Inc. (TGO.TO)

$3.45

-0.12 (-3.36%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.24 | 3.45 | 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 55.3954.3048.4445.4543.3040.7438.3336.0633.9331.92
Revenue (%)
Operating Cash Flow 10.3610.7615.3813.339.329.879.298.748.227.73
Operating Cash Flow (%)
Capital Expenditure -9.24-13.03-6.73-7.62-7.38-7.20-6.78-6.38-6-5.64
Capital Expenditure (%)
Free Cash Flow 1.12-2.288.655.721.942.672.512.362.222.09

Weighted Average Cost Of Capital

Share price $ 3.45
Beta 0.320
Diluted Shares Outstanding 107.49
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 10.85%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.041
Total Debt 35.91
Total Equity 370.83
Total Capital 406.74
Debt Weighting 8.83
Equity Weighting 91.17
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 55.3954.3048.4445.4543.3040.7438.3336.0633.9331.92
Operating Cash Flow 10.3610.7615.3813.339.329.879.298.748.227.73
Capital Expenditure -9.24-13.03-6.73-7.62-7.38-7.20-6.78-6.38-6-5.64
Free Cash Flow 1.12-2.288.655.721.942.672.512.362.222.09
WACC
PV LFCF 2.532.252.011.791.60
SUM PV LFCF 10.17

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.55
Free cash flow (t + 1) 2.13
Terminal Value 60.06
Present Value of Terminal Value 45.84

Intrinsic Value

Enterprise Value 56.02
Net Debt 30.43
Equity Value 25.58
Shares Outstanding 107.49
Equity Value Per Share 0.24