Discounted Cash Flow (DCF) Analysis Unlevered

Nuveen New York Quality Municipal I... (NAN)

$10.52

-0.17 (-1.59%)
All numbers are in Millions, Currency in USD
Stock DCF: -12.16 | 10.52 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 16.1920.2860.55-1.60-2.24-3.15-4.42-6.20-8.71
Revenue (%)
EBITDA 1924.5865.04-0.12-1.98-2.78-3.90-5.48-7.69
EBITDA (%)
EBIT -----1.98-2.78-3.90-5.48-7.69
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 16.388.3711.5827.948.9012.5017.5424.6334.58
Account Receivables (%)
Inventories ---------
Inventories (%)
Accounts Payable 10.961.671.551.520.090.130.190.260.37
Accounts Payable (%)
Capital Expenditure ---------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 10.52
Beta 0.265
Diluted Shares Outstanding 33.31
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 52.65%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.947
Total Debt 4.84
Total Equity 350.41
Total Capital 355.25
Debt Weighting 1.36
Equity Weighting 98.64
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 16.1920.2860.55-1.60-2.24-3.15-4.42-6.20-8.71
EBITDA 1924.5865.04-0.12-1.98-2.78-3.90-5.48-7.69
EBIT -----1.98-2.78-3.90-5.48-7.69
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----1.98-2.78-3.90-5.48-7.69
Depreciation ---------
Accounts Receivable -8.01-3.22-16.3619.04-3.60-5.05-7.09-9.95
Inventories ---------
Accounts Payable --9.29-0.11-0.03-1.430.040.050.070.11
Capital Expenditure ---------
UFCF ----15.63-6.34-8.90-12.49-17.54
WACC
PV UFCF 15.63-6-7.98-10.61-14.10
SUM PV UFCF -21.84

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.60
Free cash flow (t + 1) -17.89
Terminal Value -496.93
Present Value of Terminal Value -378.42

Intrinsic Value

Enterprise Value -400.26
Net Debt 4.84
Equity Value -405.09
Shares Outstanding 33.31
Equity Value Per Share -12.16