Discounted Cash Flow (DCF) Analysis Levered
Urban Edge Properties (UE)
$18.17
-0.76 (-4.01%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 407.04 | 414.16 | 387.65 | 330.10 | 425.08 | 434.94 | 445.03 | 455.35 | 465.91 | 476.71 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 157.90 | 137.04 | 156.40 | 112.82 | 135.27 | 155.04 | 158.63 | 162.31 | 166.07 | 169.93 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -89.34 | -118.76 | -91.30 | -81.62 | -105.11 | -107.54 | -110.04 | -112.59 | -115.20 | -117.87 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 68.55 | 18.28 | 65.10 | 31.20 | 30.17 | 47.49 | 48.59 | 49.72 | 50.87 | 52.05 |
Weighted Average Cost Of Capital
Share price | $ 18.17 |
---|---|
Beta | 1.634 |
Diluted Shares Outstanding | 117.90 |
Cost of Debt | |
Tax Rate | 5.75 |
After-tax Cost of Debt | 2.95% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.569 |
Total Debt | 1,754.77 |
Total Equity | 2,142.28 |
Total Capital | 3,897.05 |
Debt Weighting | 45.03 |
Equity Weighting | 54.97 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 407.04 | 414.16 | 387.65 | 330.10 | 425.08 | 434.94 | 445.03 | 455.35 | 465.91 | 476.71 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 157.90 | 137.04 | 156.40 | 112.82 | 135.27 | 155.04 | 158.63 | 162.31 | 166.07 | 169.93 |
Capital Expenditure | -89.34 | -118.76 | -91.30 | -81.62 | -105.11 | -107.54 | -110.04 | -112.59 | -115.20 | -117.87 |
Free Cash Flow | 68.55 | 18.28 | 65.10 | 31.20 | 30.17 | 47.49 | 48.59 | 49.72 | 50.87 | 52.05 |
WACC | ||||||||||
PV LFCF | 44.33 | 42.33 | 40.43 | 38.61 | 36.87 | |||||
SUM PV LFCF | 202.57 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.14 |
Free cash flow (t + 1) | 53.10 |
Terminal Value | 1,032.98 |
Present Value of Terminal Value | 731.70 |
Intrinsic Value
Enterprise Value | 934.27 |
---|---|
Net Debt | 1,590.29 |
Equity Value | -656.02 |
Shares Outstanding | 117.90 |
Equity Value Per Share | -5.56 |