Discounted Cash Flow (DCF) Analysis Unlevered

Virtus Stone Harbor Emerging Market... (EDF)

$3.69

-0.01 (-0.27%)
All numbers are in Millions, Currency in USD
Stock DCF: -3.00 | 3.69 | 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 49.76-30.268.21-6.761.76-0.860.42-0.210.10-0.05
Revenue (%)
EBITDA 50.44-28.978.06-6.811.56-0.840.41-0.200.10-0.05
EBITDA (%)
EBIT ------0.840.41-0.200.10-0.05
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 --0.383.75-0.450.22-0.110.05-0.030.01
Total Cash (%)
Account Receivables 6.758.243.8233.07-0.280.14-0.070.03-0.02
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.571.810.663.100.91-0.020.01-0.010-0
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.69
Beta 0.999
Diluted Shares Outstanding 15.20
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1.04%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.519
Total Debt 46.97
Total Equity 56.08
Total Capital 103.05
Debt Weighting 45.58
Equity Weighting 54.42
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 49.76-30.268.21-6.761.76-0.860.42-0.210.10-0.05
EBITDA 50.44-28.978.06-6.811.56-0.840.41-0.200.10-0.05
EBIT ------0.840.41-0.200.10-0.05
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------0.840.41-0.200.10-0.05
Depreciation ----------
Accounts Receivable --1.494.420.82-0.073.36-0.420.21-0.100.05
Inventories ----------
Accounts Payable --0.76-1.152.44-2.19-0.940.03-0.020.01-0
Capital Expenditure ----------
UFCF -----1.580.03-0.010.01-0
WACC
PV UFCF 1.500.02-0.010-0
SUM PV UFCF 1.52

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.11
Free cash flow (t + 1) -0
Terminal Value -0.10
Present Value of Terminal Value -0.08

Intrinsic Value

Enterprise Value 1.44
Net Debt 46.97
Equity Value -45.53
Shares Outstanding 15.20
Equity Value Per Share -3.00