Discounted Cash Flow (DCF) Analysis Unlevered

BlackRock Enhanced Global Dividend ... (BOE)

$9.11

-0.01 (-0.11%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.71 | 9.11 | 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 147.73-90.34131.4042.86119.8931.698.382.210.590.15
Revenue (%)
EBITDA 146.49-91.29130.8142.57120.1031.648.362.210.580.15
EBITDA (%)
EBIT -----31.648.362.210.580.15
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 ----0.060.020000
Total Cash (%)
Account Receivables 3.223.304.272.381.600.550.150.040.010
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 3.270.200.140.150.140.160.040.0100
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 9.11
Beta 0.892
Diluted Shares Outstanding 59.12
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.968
Total Debt -
Total Equity 538.58
Total Capital 538.58
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 147.73-90.34131.4042.86119.8931.698.382.210.590.15
EBITDA 146.49-91.29130.8142.57120.1031.648.362.210.580.15
EBIT -----31.648.362.210.580.15
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----31.648.362.210.580.15
Depreciation ----------
Accounts Receivable --0.08-0.971.890.791.050.400.110.030.01
Inventories ----------
Accounts Payable --3.07-0.050-0.010.02-0.12-0.03-0.01-0
Capital Expenditure ----------
UFCF -----32.718.652.290.600.16
WACC
PV UFCF 30.297.421.820.440.11
SUM PV UFCF 40.08

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.97
Free cash flow (t + 1) 0.16
Terminal Value 2.73
Present Value of Terminal Value 1.86

Intrinsic Value

Enterprise Value 41.94
Net Debt -0.06
Equity Value 42
Shares Outstanding 59.12
Equity Value Per Share 0.71