Discounted Cash Flow (DCF) Analysis Unlevered

The China Fund, Inc. (CHN)

$12.0007

+0.21 (+1.74%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.03 | 12.0007 | 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 81.15-54.8959106.6112.360.530.02000
Revenue (%)
EBITDA 78.64-59.4457.15105.5711.330.520.02000
EBITDA (%)
EBIT ---105.5711.330.520.02000
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 000.010000000
Total Cash (%)
Account Receivables 0.050.303.161.730.200.010000
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.741.486.343.180.370.020000
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 12.0,007
Beta 0.415
Diluted Shares Outstanding 10.49
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.664
Total Debt -
Total Equity 125.92
Total Capital 125.92
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 81.15-54.8959106.6112.360.530.02000
EBITDA 78.64-59.4457.15105.5711.330.520.02000
EBIT ---105.5711.330.520.02000
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ---105.5711.330.520.02000
Depreciation ----------
Accounts Receivable --0.25-2.871.431.530.190.01000
Inventories ----------
Accounts Payable -0.744.86-3.16-2.81-0.35-0.02-0-0-0
Capital Expenditure ----------
UFCF ---103.8410.050.360.02000
WACC
PV UFCF 0.340.01000
SUM PV UFCF 0.36

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.66
Free cash flow (t + 1) 0
Terminal Value 0
Present Value of Terminal Value 0

Intrinsic Value

Enterprise Value 0.36
Net Debt -
Equity Value 0.36
Shares Outstanding 10.49
Equity Value Per Share 0.03