Discounted Cash Flow (DCF) Analysis Unlevered

Eagle Point Credit Company Inc. (ECCB)

$24.99

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -22,954.55 | 24.99 | 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 35.10-49.60-5.3764.06140.84-388.391,071.06-2,953.668,145.29-22,462.18
Revenue (%)
EBITDA 44.06-40.054.7771.39146.32-258.59713.12-1,966.565,423.16-14,955.40
EBITDA (%)
EBIT ------258.59713.12-1,966.565,423.16-14,955.40
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 14.051.5232.874.7613.92433.09-1,194.323,293.57-9,082.6525,047.13
Total Cash (%)
Account Receivables 18.1718.3012.7323.8923.06130.82-360.75994.84-2,743.467,565.60
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 16.15-22.82-2.4729.4764.80-178.69492.77-1,358.903,747.42-10,334.22
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 24.99
Beta 1.083
Diluted Shares Outstanding 16.32
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 10.28%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.885
Total Debt 140.69
Total Equity 407.91
Total Capital 548.61
Debt Weighting 25.65
Equity Weighting 74.35
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 35.10-49.60-5.3764.06140.84-388.391,071.06-2,953.668,145.29-22,462.18
EBITDA 44.06-40.054.7771.39146.32-258.59713.12-1,966.565,423.16-14,955.40
EBIT ------258.59713.12-1,966.565,423.16-14,955.40
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------258.59713.12-1,966.565,423.16-14,955.40
Depreciation ----------
Accounts Receivable --0.135.57-11.160.83-107.75491.57-1,355.593,738.29-10,309.06
Inventories ----------
Accounts Payable --38.9720.3531.9435.32-243.48671.45-1,851.665,106.31-14,081.63
Capital Expenditure ----------
UFCF ------609.831,876.14-5,173.8114,267.77-39,346.09
WACC
PV UFCF -558.251,572.18-3,968.8610,019.11-25,292.58
SUM PV UFCF -18,228.39

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.24
Free cash flow (t + 1) -40,133.02
Terminal Value -554,323.43
Present Value of Terminal Value -356,331.96

Intrinsic Value

Enterprise Value -374,560.35
Net Debt 126.78
Equity Value -374,687.13
Shares Outstanding 16.32
Equity Value Per Share -22,954.55