Discounted Cash Flow (DCF) Analysis Unlevered

BlackRock Virginia Municipal Bond T... (BHV)

$11.08

+0.21 (+1.93%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.08 | 11.08 | overvalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 2.290.601.531.13-0.68-0.50-0.37-0.27-0.20-0.15
Revenue (%)
EBITDA 2.120.461.44-3.17-0.81-0.10-0.07-0.05-0.04-0.03
EBITDA (%)
EBIT ------0.10-0.07-0.05-0.04-0.03
EBIT (%)
Depreciation ----------
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Total Cash 0.011.010.931.974.820.300.220.160.120.09
Total Cash (%)
Account Receivables 0.500.410.380.270.28-0.10-0.07-0.05-0.04-0.03
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.090.070.070.08-0.05-0.04-0.03-0.02-0.01-0.01
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 11.08
Beta 0.739
Diluted Shares Outstanding 1.60
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 21,161.11%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.698
Total Debt 0
Total Equity 17.78
Total Capital 17.78
Debt Weighting 0.01
Equity Weighting 99.99
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 2.290.601.531.13-0.68-0.50-0.37-0.27-0.20-0.15
EBITDA 2.120.461.44-3.17-0.81-0.10-0.07-0.05-0.04-0.03
EBIT ------0.10-0.07-0.05-0.04-0.03
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------0.10-0.07-0.05-0.04-0.03
Depreciation ----------
Accounts Receivable -0.090.030.10-0.010.38-0.03-0.02-0.01-0.01
Inventories ----------
Accounts Payable --0.0200-0.130.010.010.010.010
Capital Expenditure ----------
UFCF -----0.29-0.09-0.07-0.05-0.04
WACC
PV UFCF 0.26-0.07-0.05-0.03-0.02
SUM PV UFCF 0.09

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.45
Free cash flow (t + 1) -0.04
Terminal Value -0.36
Present Value of Terminal Value -0.22

Intrinsic Value

Enterprise Value -0.13
Net Debt 0
Equity Value -0.13
Shares Outstanding 1.60
Equity Value Per Share -0.08