Discounted Cash Flow (DCF) Analysis Unlevered

BlackRock Virginia Municipal Bond T... (BHV)

$11.56

-0.12 (-1.03%)
All numbers are in Millions, Currency in USD
Stock DCF: -12,566.77 | 11.56 | 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 0.050.142.290.601.538.4947.03260.511,442.917,992.07
Revenue (%)
EBITDA 0.070.242.440.691.6010.8960.29333.961,849.7710,245.59
EBITDA (%)
EBIT -----10.8960.29333.961,849.7710,245.59
EBIT (%)
Depreciation ----------
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 --0.01000.020.130.703.8621.36
Total Cash (%)
Account Receivables 0.581.410.500.410.3839.61219.391,215.156,730.5537,279.43
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.131.640.110.090.0725.03138.64767.914,253.3223,558.47
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 11.56
Beta 0.469
Diluted Shares Outstanding 1.58
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.018
Total Debt -
Total Equity 18.24
Total Capital 18.24
Debt Weighting 0.00
Equity Weighting 100.00
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 0.050.142.290.601.538.4947.03260.511,442.917,992.07
EBITDA 0.070.242.440.691.6010.8960.29333.961,849.7710,245.59
EBIT -----10.8960.29333.961,849.7710,245.59
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----10.8960.29333.961,849.7710,245.59
Depreciation ----------
Accounts Receivable --0.830.910.090.03-39.23-179.78-995.77-5,515.39-30,548.89
Inventories ----------
Accounts Payable -1.51-1.53-0.02-0.0224.96113.61629.273,485.4119,305.15
Capital Expenditure ----------
UFCF ------3.39-5.87-32.54-180.21-998.15
WACC
PV UFCF -3.20-5.23-27.30-142.64-745.18
SUM PV UFCF -923.54

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.02
Free cash flow (t + 1) -1,018.12
Terminal Value -25,326.29
Present Value of Terminal Value -18,907.43

Intrinsic Value

Enterprise Value -19,830.97
Net Debt -
Equity Value -19,830.97
Shares Outstanding 1.58
Equity Value Per Share -12,566.77