Discounted Cash Flow (DCF) Analysis Unlevered
Guggenheim Strategic Opportunities ... (GOF)
$13.27
+0.13 (+0.99%)
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 | 19.37 | -27.27 | 159.24 | -125.69 | -14.31 | 28.34 | -56.13 | 111.17 | -220.20 | 436.16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | 18.51 | -28.34 | 159.95 | -122.96 | -16.46 | 29.06 | -57.56 | 114.01 | -225.82 | 447.29 |
| EBITDA (%) | ||||||||||
| EBIT | 18.51 | - | - | - | - | 29.06 | -57.56 | 114.01 | -225.82 | 447.29 |
| 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 | 1.23 | 0.99 | 2 | 3.93 | 3.42 | -1.31 | 2.59 | -5.12 | 10.14 | -20.09 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 4.48 | 12.67 | 110.98 | 53.95 | 42.02 | -16.45 | 32.59 | -64.55 | 127.86 | -253.26 |
| Account Receivables (%) | ||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | ||||||||||
| Accounts Payable | 11.40 | 11.91 | 107.61 | 14.99 | 17.21 | -2.81 | 5.56 | -11.01 | 21.81 | -43.19 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 13.27 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 104.15 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 6.06% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.219 |
| Total Debt | 343.85 |
| Total Equity | 1,382.06 |
| Total Capital | 1,725.91 |
| Debt Weighting | 19.92 |
| Equity Weighting | 80.08 |
| 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 | 19.37 | -27.27 | 159.24 | -125.69 | -14.31 | 28.34 | -56.13 | 111.17 | -220.20 | 436.16 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 18.51 | -28.34 | 159.95 | -122.96 | -16.46 | 29.06 | -57.56 | 114.01 | -225.82 | 447.29 |
| EBIT | 18.51 | - | - | - | - | 29.06 | -57.56 | 114.01 | -225.82 | 447.29 |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | 18.51 | - | - | - | - | 29.06 | -57.56 | 114.01 | -225.82 | 447.29 |
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | -8.19 | -98.31 | 57.03 | 11.92 | 58.48 | -49.04 | 97.14 | -192.41 | 381.12 |
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | 0.51 | 95.70 | -92.62 | 2.22 | -20.02 | 8.36 | -16.57 | 32.81 | -65 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| UFCF | 18.51 | - | - | - | - | 67.52 | -98.24 | 194.58 | -385.42 | 763.42 |
| WACC | ||||||||||
| PV UFCF | 64.55 | -89.80 | 170.07 | -322.09 | 609.97 | |||||
| SUM PV UFCF | 432.71 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.59 |
| Free cash flow (t + 1) | 778.68 |
| Terminal Value | 30,065.03 |
| Present Value of Terminal Value | 24,022.09 |
Intrinsic Value
| Enterprise Value | 24,454.80 |
|---|---|
| Net Debt | 340.43 |
| Equity Value | 24,114.37 |
| Shares Outstanding | 104.15 |
| Equity Value Per Share | 231.54 |