Discounted Cash Flow (DCF) Analysis Unlevered

Wells Fargo Advantage Funds - Allsp... (EOD)

$4.33

-0.13 (-2.91%)
All numbers are in Millions, Currency in USD
Stock DCF: -363.92 | 4.33 | 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 34.96-18.5637.76-20.2274.27-125.75212.93-360.54610.47-1,033.67
Revenue (%)
EBITDA 34.71-18.3339.54-19.7274.21-125.78212.98-360.62610.62-1,033.91
EBITDA (%)
EBIT 34.94-18.1038.74-19.8374.15-125.23212.05-359.05607.95-1,029.39
EBIT (%)
Depreciation -0.24-0.230.790.110.06-0.550.93-1.572.67-4.52
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 -0.08-0.160.09-0.320.54-0.921.55-2.634.45
Total Cash (%)
Account Receivables 2.012.614.431.751.810.70-1.182-3.395.75
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.640.352.890.810.71-1.141.93-3.275.54-9.39
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 4.33
Beta 0.983
Diluted Shares Outstanding 44.02
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.82%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.521
Total Debt 47.50
Total Equity 190.60
Total Capital 238.10
Debt Weighting 19.95
Equity Weighting 80.05
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 34.96-18.5637.76-20.2274.27-125.75212.93-360.54610.47-1,033.67
EBITDA 34.71-18.3339.54-19.7274.21-125.78212.98-360.62610.62-1,033.91
EBIT 34.94-18.1038.74-19.8374.15-125.23212.05-359.05607.95-1,029.39
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT 34.94-18.1038.74-19.8374.15-125.23212.05-359.05607.95-1,029.39
Depreciation -0.24-0.230.790.110.06-0.550.93-1.572.67-4.52
Accounts Receivable --0.60-1.822.68-0.061.111.88-3.195.40-9.14
Inventories ----------
Accounts Payable --0.282.54-2.08-0.10-1.853.08-5.218.82-14.93
Capital Expenditure ----------
UFCF ------126.53217.94-369.02624.83-1,057.98
WACC
PV UFCF -118.28190.43-301.40477.04-755.03
SUM PV UFCF -507.24

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.98
Free cash flow (t + 1) -1,079.14
Terminal Value -21,669.47
Present Value of Terminal Value -15,464.48

Intrinsic Value

Enterprise Value -15,971.72
Net Debt 47.50
Equity Value -16,019.21
Shares Outstanding 44.02
Equity Value Per Share -363.92