Discounted Cash Flow (DCF) Analysis Unlevered
Eurocastle Investment Limited (ECT.AS)
8.65 €
+0.65 (+0.00%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | -56.67 | 18.90 | 0.23 | 2.75 | 0.36 | 1.07 | 3.15 | 9.28 | 27.31 | 80.36 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | -60.23 | 15.78 | -1.52 | 1.06 | -0.87 | -1.44 | -4.23 | -12.46 | -36.66 | -107.89 |
| EBITDA (%) | ||||||||||
| EBIT | - | - | - | - | - | -1.44 | -4.23 | -12.46 | -36.66 | -107.89 |
| EBIT (%) | ||||||||||
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Total Cash | 87.77 | 41.68 | 25.34 | 28.36 | 17.72 | 36.39 | 107.08 | 315.14 | 927.46 | 2,729.50 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | - | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | ||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | ||||||||||
| Accounts Payable | 3.23 | 22.90 | 0.28 | 0.60 | 0.75 | 1 | 2.95 | 8.67 | 25.52 | 75.10 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 8.65 |
|---|---|
| Beta | 0.431 |
| Diluted Shares Outstanding | 1.51 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.190 |
| Total Debt | - |
| Total Equity | 13.10 |
| Total Capital | - |
| Debt Weighting | - |
| Equity Weighting | - |
| Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | -56.67 | 18.90 | 0.23 | 2.75 | 0.36 | 1.07 | 3.15 | 9.28 | 27.31 | 80.36 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -60.23 | 15.78 | -1.52 | 1.06 | -0.87 | -1.44 | -4.23 | -12.46 | -36.66 | -107.89 |
| EBIT | - | - | - | - | - | -1.44 | -4.23 | -12.46 | -36.66 | -107.89 |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | - | - | - | - | - | -1.44 | -4.23 | -12.46 | -36.66 | -107.89 |
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | 19.67 | -22.61 | 0.32 | 0.15 | 0.25 | 1.95 | 5.72 | 16.85 | 49.58 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| UFCF | - | - | - | - | - | -1.19 | -2.29 | -6.73 | -19.81 | -58.31 |
| WACC | ||||||||||
| PV UFCF | - | - | - | - | - | |||||
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | -59.47 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -17.72 |
| Equity Value | - |
| Shares Outstanding | 1.51 |
| Equity Value Per Share | - |