Discounted Cash Flow (DCF) Analysis Levered

Invesco Trust for Investment Grade ... (VTN)

$9.11

+0.02 (+0.22%)
All numbers are in Millions, Currency in USD
Stock DCF: 15,672,110.46 | 9.11 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 8.8033.97-4.970.70-29.33281.67-2,705.0425,978.26-249,486.362,395,982.18
Revenue (%)
Operating Cash Flow 26.3611.2322.4231.6427.372,432.30-23,359.03224,332.17-2,154,409.8620,690,219.57
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----2,432.30-23,359.03224,332.17-2,154,409.8620,690,219.57

Weighted Average Cost Of Capital

Share price $ 9.11
Beta 0.459
Diluted Shares Outstanding 19.44
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 8.76%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.737
Total Debt 42.17
Total Equity 177.13
Total Capital 219.31
Debt Weighting 19.23
Equity Weighting 80.77
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 8.8033.97-4.970.70-29.33281.67-2,705.0425,978.26-249,486.362,395,982.18
Operating Cash Flow 26.3611.2322.4231.6427.372,432.30-23,359.03224,332.17-2,154,409.8620,690,219.57
Capital Expenditure ----------
Free Cash Flow -----2,432.30-23,359.03224,332.17-2,154,409.8620,690,219.57
WACC
PV LFCF 2,270.42-20,353.19182,456.04-1,635,625.6414,662,552.33
SUM PV LFCF 13,191,299.96

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.13
Free cash flow (t + 1) 21,104,023.96
Terminal Value 411,384,482.71
Present Value of Terminal Value 291,536,128.13

Intrinsic Value

Enterprise Value 304,727,428.09
Net Debt 40.74
Equity Value 304,727,387.35
Shares Outstanding 19.44
Equity Value Per Share 15,672,110.46