Discounted Cash Flow (DCF) Analysis Levered
Urban Edge Properties (UE)
$15.59
-0.27 (-1.70%)
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 | 414.16 | 387.65 | 330.10 | 425.08 | 397.94 | 399.07 | 400.21 | 401.36 | 402.50 | 403.65 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 137.04 | 156.40 | 112.82 | 135.27 | 139.62 | 139.29 | 139.69 | 140.09 | 140.49 | 140.89 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -118.77 | -91.30 | -86.20 | -111.01 | -103.92 | -104.22 | -104.51 | -104.81 | -105.11 | -105.41 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 18.27 | 65.10 | 26.62 | 24.27 | 35.70 | 35.08 | 35.18 | 35.28 | 35.38 | 35.48 |
Weighted Average Cost Of Capital
Share price | $ 15.59 |
---|---|
Beta | 1.600 |
Diluted Shares Outstanding | 121.64 |
Cost of Debt | |
Tax Rate | 8.10 |
After-tax Cost of Debt | 3.10% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 12.108 |
Total Debt | 1,751.48 |
Total Equity | 1,896.37 |
Total Capital | 3,647.85 |
Debt Weighting | 48.01 |
Equity Weighting | 51.99 |
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 | 414.16 | 387.65 | 330.10 | 425.08 | 397.94 | 399.07 | 400.21 | 401.36 | 402.50 | 403.65 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 137.04 | 156.40 | 112.82 | 135.27 | 139.62 | 139.29 | 139.69 | 140.09 | 140.49 | 140.89 |
Capital Expenditure | -118.77 | -91.30 | -86.20 | -111.01 | -103.92 | -104.22 | -104.51 | -104.81 | -105.11 | -105.41 |
Free Cash Flow | 18.27 | 65.10 | 26.62 | 24.27 | 35.70 | 35.08 | 35.18 | 35.28 | 35.38 | 35.48 |
WACC | ||||||||||
PV LFCF | 32.55 | 30.28 | 28.18 | 26.22 | 24.40 | |||||
SUM PV LFCF | 141.62 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.78 |
Free cash flow (t + 1) | 36.19 |
Terminal Value | 626.13 |
Present Value of Terminal Value | 430.50 |
Intrinsic Value
Enterprise Value | 572.12 |
---|---|
Net Debt | 1,665.96 |
Equity Value | -1,093.84 |
Shares Outstanding | 121.64 |
Equity Value Per Share | -8.99 |