Discounted Cash Flow (DCF) Analysis Levered
True North Commercial Real Estate I... (TNT-UN.TO)
$2.56
-0.01 (-0.39%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 87.07 | 106.46 | 130.16 | 159.15 | 194.59 | 237.92 | 290.91 | 355.69 | 434.89 | 531.74 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | - | 58.59 | 91.38 | 77.31 | 103.27 | 134.96 | 165.01 | 201.76 | 246.69 | 301.62 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 134.96 | 165.01 | 201.76 | 246.69 | 301.62 |
Weighted Average Cost Of Capital
Share price | $ 2.56 |
---|---|
Beta | 1.332 |
Diluted Shares Outstanding | 86.35 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 3.35% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.033 |
Total Debt | 861.09 |
Total Equity | 221.05 |
Total Capital | 1,082.13 |
Debt Weighting | 79.57 |
Equity Weighting | 20.43 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 87.07 | 106.46 | 130.16 | 159.15 | 194.59 | 237.92 | 290.91 | 355.69 | 434.89 | 531.74 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | - | 58.59 | 91.38 | 77.31 | 103.27 | 134.96 | 165.01 | 201.76 | 246.69 | 301.62 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 134.96 | 165.01 | 201.76 | 246.69 | 301.62 |
WACC | ||||||||||
PV LFCF | - | - | - | 128.88 | 150.47 | 175.69 | 205.13 | 239.51 | ||
SUM PV LFCF | 899.68 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.72 |
Free cash flow (t + 1) | 307.66 |
Terminal Value | 11,310.92 |
Present Value of Terminal Value | 8,981.52 |
Intrinsic Value
Enterprise Value | 9,881.20 |
---|---|
Net Debt | 851.59 |
Equity Value | 9,029.61 |
Shares Outstanding | 86.35 |
Equity Value Per Share | 104.57 |