Discounted Cash Flow (DCF) Analysis Unlevered

Western Asset Global High Income Fu... (EHI)

$7.72

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: Infinity | 7.72 | undervalue

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 2.0729.910.4760.25-30.14-1,076.44-38,448.96-1,373,341.77-49,053,800.03-1,752,131,439.04
Revenue (%)
EBITDA 5.6935.053.9360.72-29.84-3,086.38-110,241.05-3,937,652.26-140,647,295.81-5,023,719,847.46
EBITDA (%)
EBIT ------3,086.38-110,241.05-3,937,652.26-140,647,295.81-5,023,719,847.46
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 8.800.710.51108.04-54.04-1,930.32-68,948.43-2,462,739.22-87,965,515.48-3,142,002,151.37
Total Cash (%)
Account Receivables 17.7314.4418.175.814.89-10,306.09-368,118.61-13,148,669.23-469,651,621.67-16,775,282,877.86
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 36.2211.3911.326.192.30-9,074.66-324,133.83-11,577,595.79-413,535,130.08-14,770,882,217.47
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 7.72
Beta 0.792
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1.16%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.269
Total Debt 77
Total Equity -
Total Capital 77
Debt Weighting 100.00
Equity Weighting 0.00
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 2.0729.910.4760.25-30.14-1,076.44-38,448.96-1,373,341.77-49,053,800.03-1,752,131,439.04
EBITDA 5.6935.053.9360.72-29.84-3,086.38-110,241.05-3,937,652.26-140,647,295.81-5,023,719,847.46
EBIT ------3,086.38-110,241.05-3,937,652.26-140,647,295.81-5,023,719,847.46
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------3,086.38-110,241.05-3,937,652.26-140,647,295.81-5,023,719,847.46
Depreciation ----------
Accounts Receivable -3.29-3.7312.360.9210,310.98357,812.5212,780,550.62456,502,952.4516,305,631,256.19
Inventories ----------
Accounts Payable --24.82-0.07-5.13-3.89-9,076.96-315,059.17-11,253,461.97-401,957,534.29-14,357,347,087.39
Capital Expenditure ----------
UFCF ------1,852.36-67,487.69-2,410,563.61-86,101,877.65-3,075,435,678.66
WACC
PV UFCF -1,831.12-65,948.80-2,328,585.21-82,219,974.86-2,903,103,671.55
SUM PV UFCF -2,987,720,011.54

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.16
Free cash flow (t + 1) -3,136,944,392.24
Terminal Value 373,445,760,980.67
Present Value of Terminal Value 352,519,731,545.53

Intrinsic Value

Enterprise Value 349,532,011,533.98
Net Debt 77
Equity Value 349,532,011,456.98
Shares Outstanding -
Equity Value Per Share Infinity