Discounted Cash Flow (DCF) Analysis Unlevered

Barings Global Short Duration High ... (BGH)

$12.47

-0.04 (-0.32%)
All numbers are in Millions, Currency in USD
Stock DCF: -235,574.18 | 12.47 | overvalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 37.28-14.5637.48-4.6050.24-175.95616.20-2,158.087,558.10-26,470.22
Revenue (%)
EBITDA 37.34-11.5341.44-5.2750.70-177.85622.89-2,181.497,640.07-26,757.29
EBITDA (%)
EBIT 39.37-10.3240.91-5.2149.98-175.34614.09-2,150.687,532.19-26,379.47
EBIT (%)
Depreciation -2.03-1.210.53-0.070.72-2.518.80-30.80107.88-377.82
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 7.707.064.562.054.7917.88-62.61219.28-767.982,689.64
Total Cash (%)
Account Receivables 9.449.3810.7711.5610.8484.53-296.051,036.85-3,631.2712,717.56
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 7.682.973.670.656.68-3.2111.25-39.40137.99-483.26
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 12.47
Beta 0.000
Diluted Shares Outstanding 20.48
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.89%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.812
Total Debt 132.50
Total Equity 255.33
Total Capital 387.83
Debt Weighting 34.16
Equity Weighting 65.84
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 37.28-14.5637.48-4.6050.24-175.95616.20-2,158.087,558.10-26,470.22
EBITDA 37.34-11.5341.44-5.2750.70-177.85622.89-2,181.497,640.07-26,757.29
EBIT 39.37-10.3240.91-5.2149.98-175.34614.09-2,150.687,532.19-26,379.47
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT 39.37-10.3240.91-5.2149.98-175.34614.09-2,150.687,532.19-26,379.47
Depreciation -2.03-1.210.53-0.070.72-2.518.80-30.80107.88-377.82
Accounts Receivable -0.05-1.39-0.790.73-73.70380.59-1,332.904,668.12-16,348.83
Inventories ----------
Accounts Payable --4.700.70-3.026.03-9.8914.46-50.65177.38-621.24
Capital Expenditure ----------
UFCF ------261.441,017.93-3,565.0412,485.58-43,727.36
WACC
PV UFCF -254.30963.05-3,280.6311,175.50-38,069.44
SUM PV UFCF -29,465.81

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.81
Free cash flow (t + 1) -44,601.91
Terminal Value -5,506,408.26
Present Value of Terminal Value -4,793,929.16

Intrinsic Value

Enterprise Value -4,823,394.97
Net Debt 127.71
Equity Value -4,823,522.68
Shares Outstanding 20.48
Equity Value Per Share -235,574.18