Discounted Cash Flow (DCF) Analysis Unlevered
Nuveen Emerging Markets Debt 2022 T... (JEMD)
$6.63
-0.00 (-0.05%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | -11.78 | 11.97 | -7.41 | 4.17 | -3.05 | 2.24 | -1.64 | 1.20 | -0.88 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||
| EBITDA | -10.73 | 13.22 | -7.02 | 4.33 | -3.05 | 2.24 | -1.64 | 1.20 | -0.88 |
| EBITDA (%) | |||||||||
| EBIT | - | - | - | - | -3.05 | 2.24 | -1.64 | 1.20 | -0.88 |
| EBIT (%) | |||||||||
| Depreciation | - | - | - | - | - | - | - | - | - |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Total Cash | - | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | |||||||||
| Account Receivables | 3.29 | 3.36 | 2.32 | 2.29 | -0.18 | 0.13 | -0.10 | 0.07 | -0.05 |
| Account Receivables (%) | |||||||||
| Inventories | - | - | - | - | - | - | - | - | - |
| Inventories (%) | |||||||||
| Accounts Payable | 0.09 | 0.14 | 0.05 | 0.51 | -0.09 | 0.07 | -0.05 | 0.04 | -0.03 |
| Accounts Payable (%) | |||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 6.63 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 14.26 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 0.84% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.784 |
| Total Debt | 33 |
| Total Equity | 94.57 |
| Total Capital | 127.58 |
| Debt Weighting | 25.87 |
| Equity Weighting | 74.13 |
| Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | -11.78 | 11.97 | -7.41 | 4.17 | -3.05 | 2.24 | -1.64 | 1.20 | -0.88 |
|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -10.73 | 13.22 | -7.02 | 4.33 | -3.05 | 2.24 | -1.64 | 1.20 | -0.88 |
| EBIT | - | - | - | - | -3.05 | 2.24 | -1.64 | 1.20 | -0.88 |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | - | - | - | - | -3.05 | 2.24 | -1.64 | 1.20 | -0.88 |
| Depreciation | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | -0.07 | 1.05 | 0.03 | 2.47 | -0.31 | 0.23 | -0.17 | 0.12 |
| Inventories | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | 0.06 | -0.10 | 0.47 | -0.61 | 0.16 | -0.12 | 0.09 | -0.06 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - |
| UFCF | - | - | - | - | -1.19 | 2.08 | -1.52 | 1.12 | -0.82 |
| WACC | |||||||||
| PV UFCF | -1.19 | 2.02 | -1.44 | 1.02 | -0.73 | ||||
| SUM PV UFCF | -0.30 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.02 |
| Free cash flow (t + 1) | -0.83 |
| Terminal Value | -81.82 |
| Present Value of Terminal Value | -70.51 |
Intrinsic Value
| Enterprise Value | -70.81 |
|---|---|
| Net Debt | 32.99 |
| Equity Value | -103.81 |
| Shares Outstanding | 14.26 |
| Equity Value Per Share | -7.28 |