Discounted Cash Flow (DCF) Analysis Levered
True North Commercial Real Estate I... (TNT-UN.TO)
$3.33
-0.07 (-2.06%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 56.01 | 87.07 | 106.46 | 147.82 | 205.25 | 285 | 395.74 | 549.50 | 763.01 | 1,059.47 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 30.39 | 47.24 | 57.76 | 80.20 | 111.36 | 154.62 | 214.70 | 298.12 | 413.95 | 574.79 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 154.62 | 214.70 | 298.12 | 413.95 | 574.79 |
Weighted Average Cost Of Capital
Share price | $ 3.33 |
---|---|
Beta | 1.314 |
Diluted Shares Outstanding | 86.35 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 3.33% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.704 |
Total Debt | 820.40 |
Total Equity | 287.53 |
Total Capital | 1,107.93 |
Debt Weighting | 74.05 |
Equity Weighting | 25.95 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 56.01 | 87.07 | 106.46 | 147.82 | 205.25 | 285 | 395.74 | 549.50 | 763.01 | 1,059.47 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 30.39 | 47.24 | 57.76 | 80.20 | 111.36 | 154.62 | 214.70 | 298.12 | 413.95 | 574.79 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 154.62 | 214.70 | 298.12 | 413.95 | 574.79 |
WACC | ||||||||||
PV LFCF | - | - | 147.29 | 194.81 | 257.67 | 340.82 | 450.79 | |||
SUM PV LFCF | 1,391.38 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.98 |
Free cash flow (t + 1) | 586.28 |
Terminal Value | 19,673.98 |
Present Value of Terminal Value | 15,429.77 |
Intrinsic Value
Enterprise Value | 16,821.15 |
---|---|
Net Debt | 814.93 |
Equity Value | 16,006.23 |
Shares Outstanding | 86.35 |
Equity Value Per Share | 185.37 |