Discounted Cash Flow (DCF) Analysis Unlevered

BlackRock MuniHoldings Quality Fund... (MUE)

$10.02

+0.03 (+0.30%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.09 | 10.02 | overvalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 21.9218.0621.19-39.58-5.83-0.40-0.03-0-0-0
Revenue (%)
EBITDA 21.7217.8621.01-37.49-6.01-0.40-0.03-0-0-0
EBITDA (%)
EBIT ------0.40-0.03-0-0-0
EBIT (%)
Depreciation ----------
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Total Cash 0.021.921.13-2.12-0.31-0.02-0-0-0-0
Total Cash (%)
Account Receivables 5.184.954.8610.693.700.010000
Account Receivables (%)
Inventories 10.488.6410.13-18.92-2.79-0.19-0.01-0-0-0
Inventories (%)
Accounts Payable 5.281.511.194.702.600.010000
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 10.02
Beta 0.525
Diluted Shares Outstanding 22.27
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 10,140.61%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.637
Total Debt 0.06
Total Equity 223.10
Total Capital 223.16
Debt Weighting 0.03
Equity Weighting 99.97
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 21.9218.0621.19-39.58-5.83-0.40-0.03-0-0-0
EBITDA 21.7217.8621.01-37.49-6.01-0.40-0.03-0-0-0
EBIT ------0.40-0.03-0-0-0
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------0.40-0.03-0-0-0
Depreciation ----------
Accounts Receivable -0.230.09-5.836.993.690.01000
Inventories -1.84-1.4929.05-16.13-2.59-0.18-0.01-0-0
Accounts Payable --3.78-0.313.50-2.10-2.58-0.01-0-0-0
Capital Expenditure ----------
UFCF ------1.88-0.21-0.01-0-0
WACC
PV UFCF -1.72-0.17-0.01-0-0
SUM PV UFCF -1.91

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.31
Free cash flow (t + 1) -0
Terminal Value -0
Present Value of Terminal Value -0

Intrinsic Value

Enterprise Value -1.91
Net Debt 0.06
Equity Value -1.97
Shares Outstanding 22.27
Equity Value Per Share -0.09