Discounted Cash Flow (DCF) Analysis Unlevered

DTF Tax-Free Income 2028 Term Fund ... (DTF)

$11.2007

-0.01 (-0.08%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 11.2007 | undervalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 1.66-3.2814.885.05-10.3921.37-43.9690.41-185.96
Revenue (%)
EBITDA 2.59-2.0416.545.87-11.5623.78-48.91100.60-206.92
EBITDA (%)
EBIT -----11.5623.78-48.91100.60-206.92
EBIT (%)
Depreciation ---------
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash 0.522.131.091.62-0.150.30-0.611.26-2.60
Total Cash (%)
Account Receivables 2.623.652.672.56-2.996.14-12.6425.99-53.46
Account Receivables (%)
Inventories ---------
Inventories (%)
Accounts Payable 0.312.711.011.450.73-1.513.11-6.3913.14
Accounts Payable (%)
Capital Expenditure ---------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 11.2,007
Beta 0.274
Diluted Shares Outstanding 8.53
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.173
Total Debt -
Total Equity 95.56
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 1.66-3.2814.885.05-10.3921.37-43.9690.41-185.96
EBITDA 2.59-2.0416.545.87-11.5623.78-48.91100.60-206.92
EBIT -----11.5623.78-48.91100.60-206.92
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----11.5623.78-48.91100.60-206.92
Depreciation ---------
Accounts Receivable --1.030.980.105.55-9.1318.78-38.6379.45
Inventories ---------
Accounts Payable -2.40-1.700.44-0.72-2.244.61-9.4919.52
Capital Expenditure ---------
UFCF -----6.7312.41-25.5252.48-107.95
WACC
PV UFCF -6.73----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -110.11
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -1.62
Equity Value -
Shares Outstanding 8.53
Equity Value Per Share -