Discounted Cash Flow (DCF) Analysis Unlevered

John Hancock Preferred Income Fund ... (HPS)

$15.6

+0.01 (+0.06%)
All numbers are in Millions, Currency in USD
Stock DCF: -Infinity | 15.6 | overvalue

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 25.4544.20-37.50109.76-33.5219.64-11.516.74-3.952.31
Revenue (%)
EBITDA 31.7553.26-32.02111.44-30.6120.56-12.057.06-4.142.42
EBITDA (%)
EBIT -----20.56-12.057.06-4.142.42
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 00-00-00-00-00
Total Cash (%)
Account Receivables 5.398.084.5211.077.130.64-0.370.22-0.130.07
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.125.010.194.437.570.02-0.010.01-00
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 15.6
Beta 0.857
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1.22%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.687
Total Debt 274.30
Total Equity -
Total Capital 274.30
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 25.4544.20-37.50109.76-33.5219.64-11.516.74-3.952.31
EBITDA 31.7553.26-32.02111.44-30.6120.56-12.057.06-4.142.42
EBIT -----20.56-12.057.06-4.142.42
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----20.56-12.057.06-4.142.42
Depreciation ----------
Accounts Receivable --2.693.56-6.553.946.491.01-0.590.35-0.20
Inventories ----------
Accounts Payable -2.88-4.824.243.14-7.55-0.040.02-0.010.01
Capital Expenditure ----------
UFCF -----19.50-11.086.49-3.802.23
WACC
PV UFCF 19.27-10.816.26-3.622.10
SUM PV UFCF 13.19

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.22
Free cash flow (t + 1) 2.27
Terminal Value -291.34
Present Value of Terminal Value -274.20

Intrinsic Value

Enterprise Value -261.01
Net Debt 274.04
Equity Value -535.05
Shares Outstanding -
Equity Value Per Share -Infinity