Discounted Cash Flow (DCF) Analysis Levered
Tortoise Power and Energy Infrastru... (TPZ)
$12.54
+0.07 (+0.56%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | -6.87 | 0.06 | -3.33 | -24.64 | 411.50 | -6,872.60 | 114,782.92 | -1,917,050.13 | 32,017,666.13 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||
| Operating Cash Flow | 7.63 | 10.43 | 9.74 | 35.81 | 17,981.12 | -300,312.24 | 5,015,673.18 | -83,769,405.57 | 1,399,077,063.51 |
| Operating Cash Flow (%) | |||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) | |||||||||
| Free Cash Flow | - | - | - | - | 17,981.12 | -300,312.24 | 5,015,673.18 | -83,769,405.57 | 1,399,077,063.51 |
Weighted Average Cost Of Capital
| Share price | $ 12.54 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 7.02 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 3.69% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.610 |
| Total Debt | 26.20 |
| Total Equity | 87.98 |
| Total Capital | 114.18 |
| Debt Weighting | 22.95 |
| Equity Weighting | 77.05 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | -6.87 | 0.06 | -3.33 | -24.64 | 411.50 | -6,872.60 | 114,782.92 | -1,917,050.13 | 32,017,666.13 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 7.63 | 10.43 | 9.74 | 35.81 | 17,981.12 | -300,312.24 | 5,015,673.18 | -83,769,405.57 | 1,399,077,063.51 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | 17,981.12 | -300,312.24 | 5,015,673.18 | -83,769,405.57 | 1,399,077,063.51 |
| WACC | |||||||||
| PV LFCF | 15,044.90 | -242,471.13 | 3,907,785.74 | -62,979,824.84 | 1,015,014,282.69 | ||||
| SUM PV LFCF | 1,102,225,138.96 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.63 |
| Free cash flow (t + 1) | 1,427,058,604.78 |
| Terminal Value | 87,549,607,655.49 |
| Present Value of Terminal Value | 73,253,218,925.36 |
Intrinsic Value
| Enterprise Value | 74,355,444,064.32 |
|---|---|
| Net Debt | 26.20 |
| Equity Value | 74,355,444,038.12 |
| Shares Outstanding | 7.02 |
| Equity Value Per Share | 10,597,893,210.15 |