Discounted Cash Flow (DCF) Analysis Unlevered

Nuveen Preferred Securities Income ... (JPS)

$7.62

-0.05 (-0.65%)
All numbers are in Millions, Currency in USD
Stock DCF: -6.67 | 7.62 | overvalue

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 300.7614.69159.74-23.68296.52-129.4156.48-24.6510.76-4.69
Revenue (%)
EBITDA 314.7338.55192.19-2.88305.23-155.9468.06-29.7012.96-5.66
EBITDA (%)
EBIT ------155.9468.06-29.7012.96-5.66
EBIT (%)
Depreciation ----------
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 -0.404.37-0.658.12-3.541.55-0.670.29-0.13
Total Cash (%)
Account Receivables 39.2441.0142.1939.4441.19-42.9618.75-8.183.57-1.56
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 12.7421.7214.1817.7335.53-25.3911.08-4.842.11-0.92
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 7.62
Beta 0.822
Diluted Shares Outstanding 202.47
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.84%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.412
Total Debt 1,148.49
Total Equity 1,542.84
Total Capital 2,691.32
Debt Weighting 42.67
Equity Weighting 57.33
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 300.7614.69159.74-23.68296.52-129.4156.48-24.6510.76-4.69
EBITDA 314.7338.55192.19-2.88305.23-155.9468.06-29.7012.96-5.66
EBIT ------155.9468.06-29.7012.96-5.66
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------155.9468.06-29.7012.96-5.66
Depreciation ----------
Accounts Receivable --1.77-1.192.76-1.7584.15-61.7126.93-11.755.13
Inventories ----------
Accounts Payable -8.99-7.553.5617.79-60.9236.47-15.926.95-3.03
Capital Expenditure ----------
UFCF ------132.7242.82-18.698.16-3.56
WACC
PV UFCF -126.8739.13-16.336.81-2.84
SUM PV UFCF -100.09

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.61
Free cash flow (t + 1) -3.63
Terminal Value -139.11
Present Value of Terminal Value -111.04

Intrinsic Value

Enterprise Value -211.13
Net Debt 1,138.36
Equity Value -1,349.49
Shares Outstanding 202.47
Equity Value Per Share -6.67