Discounted Cash Flow (DCF) Analysis Levered
Teekay Tankers Ltd. (TNK)
$39.01
+0.01 (+0.03%)
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 | 755.76 | 920.97 | 886.43 | 542.37 | 1,063.11 | 1,263.26 | 1,501.10 | 1,783.71 | 2,119.53 | 2,518.57 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -7.26 | 117.66 | 347.94 | -109.44 | 193.27 | 123.97 | 147.31 | 175.04 | 208 | 247.16 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -5.83 | -11.63 | -16.02 | -21.45 | -15.43 | -23.36 | -27.76 | -32.99 | -39.20 | -46.58 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -13.09 | 106.03 | 331.92 | -130.89 | 177.83 | 100.61 | 119.55 | 142.06 | 168.80 | 200.58 |
Weighted Average Cost Of Capital
Share price | $ 39.01 |
---|---|
Beta | -0.076 |
Diluted Shares Outstanding | 34.29 |
Cost of Debt | |
Tax Rate | 0.23 |
After-tax Cost of Debt | 6.19% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.115 |
Total Debt | 576.20 |
Total Equity | 1,337.54 |
Total Capital | 1,913.74 |
Debt Weighting | 30.11 |
Equity Weighting | 69.89 |
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 | 755.76 | 920.97 | 886.43 | 542.37 | 1,063.11 | 1,263.26 | 1,501.10 | 1,783.71 | 2,119.53 | 2,518.57 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -7.26 | 117.66 | 347.94 | -109.44 | 193.27 | 123.97 | 147.31 | 175.04 | 208 | 247.16 |
Capital Expenditure | -5.83 | -11.63 | -16.02 | -21.45 | -15.43 | -23.36 | -27.76 | -32.99 | -39.20 | -46.58 |
Free Cash Flow | -13.09 | 106.03 | 331.92 | -130.89 | 177.83 | 100.61 | 119.55 | 142.06 | 168.80 | 200.58 |
WACC | ||||||||||
PV LFCF | 96.05 | 108.97 | 123.63 | 140.26 | 159.12 | |||||
SUM PV LFCF | 628.03 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.74 |
Free cash flow (t + 1) | 204.59 |
Terminal Value | 7,466.86 |
Present Value of Terminal Value | 5,923.46 |
Intrinsic Value
Enterprise Value | 6,551.49 |
---|---|
Net Debt | 395.69 |
Equity Value | 6,155.80 |
Shares Outstanding | 34.29 |
Equity Value Per Share | 179.54 |