Discounted Cash Flow (DCF) Analysis Levered
Invesco Trust for Investment Grade ... (VTN)
$10.99
-0.16 (-1.43%)
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 | 8.83 | 8.80 | 33.97 | -4.97 | 0.70 | 0.80 | 0.91 | 1.04 | 1.19 | 1.36 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 17.67 | 26.36 | 11.23 | 22.42 | 31.64 | 7.36 | 8.41 | 9.60 | 10.97 | 12.53 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | 7.36 | 8.41 | 9.60 | 10.97 | 12.53 |
Weighted Average Cost Of Capital
Share price | $ 10.99 |
---|---|
Beta | 0.343 |
Diluted Shares Outstanding | 19.96 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 2.49% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.506 |
Total Debt | 59.67 |
Total Equity | 219.37 |
Total Capital | 279.04 |
Debt Weighting | 21.39 |
Equity Weighting | 78.61 |
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 | 8.83 | 8.80 | 33.97 | -4.97 | 0.70 | 0.80 | 0.91 | 1.04 | 1.19 | 1.36 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 17.67 | 26.36 | 11.23 | 22.42 | 31.64 | 7.36 | 8.41 | 9.60 | 10.97 | 12.53 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | 7.36 | 8.41 | 9.60 | 10.97 | 12.53 |
WACC | ||||||||||
PV LFCF | 6.03 | 6.62 | 7.26 | 7.97 | 8.75 | |||||
SUM PV LFCF | 42.97 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.07 |
Free cash flow (t + 1) | 12.78 |
Terminal Value | 617.45 |
Present Value of Terminal Value | 505.79 |
Intrinsic Value
Enterprise Value | 548.76 |
---|---|
Net Debt | 58.55 |
Equity Value | 490.21 |
Shares Outstanding | 19.96 |
Equity Value Per Share | 24.56 |