Discounted Cash Flow (DCF) Analysis Unlevered
Nuveen Corporate Income 2023 Target... (JHAA)
$9.12
+0.14 (+1.56%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
Revenue | 8.62 | 1.86 | 0.40 | 0.09 | 0.02 | 0 | 0 |
---|---|---|---|---|---|---|---|
Revenue (%) | |||||||
EBITDA | 9.24 | 2.04 | 0.43 | 0.09 | 0.02 | 0 | 0 |
EBITDA (%) | |||||||
EBIT | - | - | 0.43 | 0.09 | 0.02 | 0 | 0 |
EBIT (%) | |||||||
Depreciation | - | - | - | - | - | - | - |
Depreciation (%) |
Balance Sheet Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
Total Cash | - | - | - | - | - | - | - |
---|---|---|---|---|---|---|---|
Total Cash (%) | |||||||
Account Receivables | 1.07 | 3.95 | 0.45 | 0.10 | 0.02 | 0 | 0 |
Account Receivables (%) | |||||||
Inventories | - | - | - | - | - | - | - |
Inventories (%) | |||||||
Accounts Payable | 1.30 | 0.28 | 0.06 | 0.01 | 0 | 0 | 0 |
Accounts Payable (%) | |||||||
Capital Expenditure | - | - | - | - | - | - | - |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 9.12 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 7.85 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 1.40% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 3.207 |
Total Debt | 25.08 |
Total Equity | 71.55 |
Total Capital | 96.63 |
Debt Weighting | 25.95 |
Equity Weighting | 74.05 |
Wacc |
Build Up Free Cash
Year A/P | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
Revenue | 8.62 | 1.86 | 0.40 | 0.09 | 0.02 | 0 | 0 |
---|---|---|---|---|---|---|---|
EBITDA | 9.24 | 2.04 | 0.43 | 0.09 | 0.02 | 0 | 0 |
EBIT | - | - | 0.43 | 0.09 | 0.02 | 0 | 0 |
Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EBIAT | - | - | 0.43 | 0.09 | 0.02 | 0 | 0 |
Depreciation | - | - | - | - | - | - | - |
Accounts Receivable | - | -2.88 | 3.50 | 0.35 | 0.08 | 0.02 | 0 |
Inventories | - | - | - | - | - | - | - |
Accounts Payable | - | -1.02 | -0.22 | -0.05 | -0.01 | -0 | -0 |
Capital Expenditure | - | - | - | - | - | - | - |
UFCF | - | - | 3.72 | 0.40 | 0.09 | 0.02 | 0 |
WACC | |||||||
PV UFCF | 3.92 | 0.41 | 0.09 | 0.02 | 0 | ||
SUM PV UFCF | 4.10 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 2.74 |
Free cash flow (t + 1) | 0 |
Terminal Value | 0.55 |
Present Value of Terminal Value | 0.48 |
Intrinsic Value
Enterprise Value | 4.58 |
---|---|
Net Debt | 24.96 |
Equity Value | -20.38 |
Shares Outstanding | 7.85 |
Equity Value Per Share | -2.60 |