Discounted Cash Flow (DCF) Analysis Levered

Uniti Group Inc. (UNIT)

$5.57

+0.47 (+9.22%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.62 | 5.57 | overvalue

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 1,017.631,057.611,067.041,100.521,128.851,158.571,189.071,220.381,252.511,285.49
Revenue (%)
Operating Cash Flow 472.82616.98157.23499.16460.12476.52489.07501.95515.16528.72
Operating Cash Flow (%)
Capital Expenditure -423.57-350.48-317.08-385.85-427.57-411.10-421.92-433.03-444.43-456.13
Capital Expenditure (%)
Free Cash Flow 49.24266.50-159.85113.3032.5565.4367.1568.9270.7372.59

Weighted Average Cost Of Capital

Share price $ 5.57
Beta 1.350
Diluted Shares Outstanding 235.57
Cost of Debt
Tax Rate 62.33
After-tax Cost of Debt 2.69%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.623
Total Debt 5,270.69
Total Equity 1,312.11
Total Capital 6,582.80
Debt Weighting 80.07
Equity Weighting 19.93
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 1,017.631,057.611,067.041,100.521,128.851,158.571,189.071,220.381,252.511,285.49
Operating Cash Flow 472.82616.98157.23499.16460.12476.52489.07501.95515.16528.72
Capital Expenditure -423.57-350.48-317.08-385.85-427.57-411.10-421.92-433.03-444.43-456.13
Free Cash Flow 49.24266.50-159.85113.3032.5565.4367.1568.9270.7372.59
WACC
PV LFCF 62.7561.7660.7959.8458.90
SUM PV LFCF 304.03

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.27
Free cash flow (t + 1) 74.77
Terminal Value 5,887.40
Present Value of Terminal Value 4,776.69

Intrinsic Value

Enterprise Value 5,080.72
Net Debt 5,226.89
Equity Value -146.17
Shares Outstanding 235.57
Equity Value Per Share -0.62