Discounted Cash Flow (DCF) Analysis Unlevered

SRH Total Return Fund, Inc. (BIF)

$14.75

-0.08 (-%)
All numbers are in Millions, Currency in USD
Stock DCF: 3,140,386,050.26 | 14.75 | undervalue

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 25197.7961.36-1.98276.25-9,584.64332,540.13-11,537,516.39400,295,405.58-13,888,293,317.35
Revenue (%)
EBITDA 248.3594.7259.13-3.50280.07-10,938.18379,501.52-13,166,847.10456,825,214.83-15,849,601,293.93
EBITDA (%)
EBIT -94.7259.13---10,938.18379,501.52-13,166,847.10456,825,214.83-15,849,601,293.93
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 0.020.010.01-00.02-0.8328.79-998.9234,657.58-1,202,448.44
Total Cash (%)
Account Receivables 1.931.831.697.332.046,993.19-242,629.598,418,060.51-292,065,539.3010,133,246,150.55
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 1.201.081.0832.050.8431,018.09-1,076,176.1737,338,051.23-1,295,447,812.2744,945,704,954.91
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 14.75
Beta 0.836
Diluted Shares Outstanding 98.27
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 2.74%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.585
Total Debt 222.98
Total Equity 1,449.50
Total Capital 1,672.48
Debt Weighting 13.33
Equity Weighting 86.67
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 25197.7961.36-1.98276.25-9,584.64332,540.13-11,537,516.39400,295,405.58-13,888,293,317.35
EBITDA 248.3594.7259.13-3.50280.07-10,938.18379,501.52-13,166,847.10456,825,214.83-15,849,601,293.93
EBIT -94.7259.13---10,938.18379,501.52-13,166,847.10456,825,214.83-15,849,601,293.93
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -94.7259.13---10,938.18379,501.52-13,166,847.10456,825,214.83-15,849,601,293.93
Depreciation ----------
Accounts Receivable -0.100.14-5.645.30-6,991.16249,622.78-8,660,690.10300,483,599.81-10,425,311,689.86
Inventories ----------
Accounts Payable --0.12030.97-31.2231,017.25-1,107,194.2738,414,227.41-1,332,785,863.5146,241,152,767.18
Capital Expenditure ----------
UFCF -94.7059.27--13,087.91-478,069.9616,586,690.20-575,477,048.8719,966,239,783.39
WACC
PV UFCF 12,238.56-418,033.5113,562,482.60-440,014,804.4814,275,633,299.06
SUM PV UFCF 13,848,775,182.22

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.94
Free cash flow (t + 1) 20,365,564,579.06
Terminal Value 412,258,392,288.65
Present Value of Terminal Value 294,760,039,778.21

Intrinsic Value

Enterprise Value 308,608,814,960.43
Net Debt 222.59
Equity Value 308,608,814,737.83
Shares Outstanding 98.27
Equity Value Per Share 3,140,386,050.26