Discounted Cash Flow (DCF) Analysis Unlevered
Wells Fargo Advantage Funds - Allsp... (EOD)
$5.195
-0.02 (-0.48%)
All numbers are in Millions, Currency in USD
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 | -18.56 | 37.76 | -20.22 | 74.27 | -125.75 | 212.93 | -360.54 | 610.47 | -1,033.67 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | 34.71 | -18.33 | 39.54 | -19.72 | 74.21 | -125.78 | 212.98 | -360.62 | 610.62 | -1,033.91 |
EBITDA (%) | ||||||||||
EBIT | 34.94 | -18.10 | 38.74 | -19.83 | 74.15 | -125.23 | 212.05 | -359.05 | 607.95 | -1,029.39 |
EBIT (%) | ||||||||||
Depreciation | -0.24 | -0.23 | 0.79 | 0.11 | 0.06 | -0.55 | 0.93 | -1.57 | 2.67 | -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 | -0.16 | 0.09 | -0.32 | 0.54 | -0.92 | 1.55 | -2.63 | 4.45 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | 2.01 | 2.61 | 4.43 | 1.75 | 1.81 | 0.70 | -1.18 | 2 | -3.39 | 5.75 |
Account Receivables (%) | ||||||||||
Inventories | - | - | - | - | - | - | - | - | - | - |
Inventories (%) | ||||||||||
Accounts Payable | 0.64 | 0.35 | 2.89 | 0.81 | 0.71 | -1.14 | 1.93 | -3.27 | 5.54 | -9.39 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 5.195 |
---|---|
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 | 7.471 |
Total Debt | 47.50 |
Total Equity | 228.68 |
Total Capital | 276.18 |
Debt Weighting | 17.20 |
Equity Weighting | 82.80 |
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 | -18.56 | 37.76 | -20.22 | 74.27 | -125.75 | 212.93 | -360.54 | 610.47 | -1,033.67 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 34.71 | -18.33 | 39.54 | -19.72 | 74.21 | -125.78 | 212.98 | -360.62 | 610.62 | -1,033.91 |
EBIT | 34.94 | -18.10 | 38.74 | -19.83 | 74.15 | -125.23 | 212.05 | -359.05 | 607.95 | -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 | -18.10 | 38.74 | -19.83 | 74.15 | -125.23 | 212.05 | -359.05 | 607.95 | -1,029.39 |
Depreciation | -0.24 | -0.23 | 0.79 | 0.11 | 0.06 | -0.55 | 0.93 | -1.57 | 2.67 | -4.52 |
Accounts Receivable | - | -0.60 | -1.82 | 2.68 | -0.06 | 1.11 | 1.88 | -3.19 | 5.40 | -9.14 |
Inventories | - | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | -0.28 | 2.54 | -2.08 | -0.10 | -1.85 | 3.08 | -5.21 | 8.82 | -14.93 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
UFCF | - | - | - | - | - | -126.53 | 217.94 | -369.02 | 624.83 | -1,057.98 |
WACC | ||||||||||
PV UFCF | -119 | 192.76 | -306.96 | 488.81 | -778.39 | |||||
SUM PV UFCF | -522.78 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.33 |
Free cash flow (t + 1) | -1,079.14 |
Terminal Value | -24,922.39 |
Present Value of Terminal Value | -18,336.25 |
Intrinsic Value
Enterprise Value | -18,859.03 |
---|---|
Net Debt | 47.50 |
Equity Value | -18,906.53 |
Shares Outstanding | 44.02 |
Equity Value Per Share | -429.52 |