Discounted Cash Flow (DCF) Analysis Unlevered

Nuveen Preferred and Income Fund (JPT)

$18.29

-0.29 (-1.58%)
All numbers are in Millions, Currency in USD
Stock DCF: -755.62 | 18.29 | overvalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 11.56-1.2612.210.30-0.973.18-10.3833.86-110.53
Revenue (%)
EBITDA 11.80-0.4213.391.02-1.434.66-15.2149.64-162.01
EBITDA (%)
EBIT -----1.434.66-15.2149.64-162.01
EBIT (%)
Depreciation ---------
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash ---------
Total Cash (%)
Account Receivables 2.082.062.911.95-1.304.23-13.8045.04-147
Account Receivables (%)
Inventories ---------
Inventories (%)
Accounts Payable 0.873.020.881.55-0.722.35-7.6625-81.59
Accounts Payable (%)
Capital Expenditure ---------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 18.29
Beta 0.000
Diluted Shares Outstanding 6.82
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 2.34%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.599
Total Debt 37.30
Total Equity 124.72
Total Capital 162.02
Debt Weighting 23.02
Equity Weighting 76.98
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 11.56-1.2612.210.30-0.973.18-10.3833.86-110.53
EBITDA 11.80-0.4213.391.02-1.434.66-15.2149.64-162.01
EBIT -----1.434.66-15.2149.64-162.01
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----1.434.66-15.2149.64-162.01
Depreciation ---------
Accounts Receivable -0.02-0.850.953.25-5.5218.03-58.84192.04
Inventories ---------
Accounts Payable -2.14-2.140.67-2.273.07-10.0132.66-106.59
Capital Expenditure ---------
UFCF -----0.452.20-7.1923.46-76.57
WACC
PV UFCF -0.452.13-6.7321.28-67.22
SUM PV UFCF -49.36

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.31
Free cash flow (t + 1) -78.10
Terminal Value -5,961.64
Present Value of Terminal Value -5,065.87

Intrinsic Value

Enterprise Value -5,115.23
Net Debt 37.30
Equity Value -5,152.53
Shares Outstanding 6.82
Equity Value Per Share -755.62