Discounted Cash Flow (DCF) Analysis Unlevered
Virtus Dividend, Interest & Premium... (NFJ)
$11.74
+0.04 (+0.30%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | -84.89 | 164.16 | 168.01 | 193.08 | -107.69 | 8.58 | -0.68 | 0.05 | -0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | -110.95 | 140.56 | 154.96 | 187.65 | -116.37 | 8.82 | -0.70 | 0.06 | -0 | 0 |
| EBITDA (%) | ||||||||||
| EBIT | - | - | - | - | - | 8.82 | -0.70 | 0.06 | -0 | 0 |
| EBIT (%) | ||||||||||
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Total Cash | -121.61 | 0.15 | 0.90 | 0.50 | 0.50 | 2.47 | -0.20 | 0.02 | -0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 10.11 | 33.03 | 13.46 | 48.05 | 11.81 | 0.52 | -0.04 | 0 | -0 | 0 |
| Account Receivables (%) | ||||||||||
| Inventories | 121.61 | -0 | -120.34 | -138.30 | 77.13 | -6.14 | 0.49 | -0.04 | 0 | -0 |
| Inventories (%) | ||||||||||
| Accounts Payable | 10.40 | 32.44 | 2.48 | 31.54 | 3.08 | 0.39 | -0.03 | 0 | -0 | 0 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 11.74 |
|---|---|
| Beta | 1.133 |
| Diluted Shares Outstanding | 94.80 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.603 |
| Total Debt | - |
| Total Equity | 1,112.97 |
| Total Capital | - |
| Debt Weighting | - |
| Equity Weighting | - |
| Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | -84.89 | 164.16 | 168.01 | 193.08 | -107.69 | 8.58 | -0.68 | 0.05 | -0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -110.95 | 140.56 | 154.96 | 187.65 | -116.37 | 8.82 | -0.70 | 0.06 | -0 | 0 |
| EBIT | - | - | - | - | - | 8.82 | -0.70 | 0.06 | -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 | - | - | - | - | - | 8.82 | -0.70 | 0.06 | -0 | 0 |
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | -22.92 | 19.57 | -34.59 | 36.25 | 11.29 | 0.56 | -0.04 | 0 | -0 |
| Inventories | - | 121.61 | 120.34 | 17.96 | -215.43 | 83.28 | -6.63 | 0.53 | -0.04 | 0 |
| Accounts Payable | - | 22.04 | -29.96 | 29.06 | -28.46 | -2.70 | -0.42 | 0.03 | -0 | 0 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| UFCF | - | - | - | - | - | 100.69 | -7.19 | 0.57 | -0.05 | 0 |
| WACC | ||||||||||
| PV UFCF | - | - | - | - | - | |||||
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | 0 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -0.50 |
| Equity Value | - |
| Shares Outstanding | 94.80 |
| Equity Value Per Share | - |