Discounted Cash Flow (DCF) Analysis Unlevered

Nuveen Intermediate Duration Munici... (NID)

$12.53

-0.02 (-0.16%)
All numbers are in Millions, Currency in USD
Stock DCF: -14,061.94 | 12.53 | 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 38.3424.0355.13-4.8976.57-245.74788.62-2,530.828,121.83-26,064.33
Revenue (%)
EBITDA -10.5927.2759.14-1.2078.01-157.10504.17-1,617.975,192.35-16,663.13
EBITDA (%)
EBIT ------157.10504.17-1,617.975,192.35-16,663.13
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 -4.916.94-0.8112.64-40.58130.22-417.911,341.13-4,303.93
Total Cash (%)
Account Receivables 38.1026.2317.4615.5915.8428.59-91.76294.47-945.013,032.71
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 6.9015.663.812.022.21-25.4181.53-261.65839.68-2,694.68
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 12.53
Beta 0.214
Diluted Shares Outstanding 46.99
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.34%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.973
Total Debt 35.30
Total Equity 588.83
Total Capital 624.12
Debt Weighting 5.66
Equity Weighting 94.34
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 38.3424.0355.13-4.8976.57-245.74788.62-2,530.828,121.83-26,064.33
EBITDA -10.5927.2759.14-1.2078.01-157.10504.17-1,617.975,192.35-16,663.13
EBIT ------157.10504.17-1,617.975,192.35-16,663.13
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------157.10504.17-1,617.975,192.35-16,663.13
Depreciation ----------
Accounts Receivable -11.878.771.86-0.25-12.75120.35-386.231,239.49-3,977.73
Inventories ----------
Accounts Payable -8.76-11.86-1.790.20-27.62106.94-343.181,101.33-3,534.36
Capital Expenditure ----------
UFCF ------197.47731.46-2,347.397,533.17-24,175.22
WACC
PV UFCF -188.09663.58-2,028.346,199.92-18,950.94
SUM PV UFCF -14,303.86

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.99
Free cash flow (t + 1) -24,658.72
Terminal Value -824,706.46
Present Value of Terminal Value -646,486.88

Intrinsic Value

Enterprise Value -660,790.75
Net Debt 26.13
Equity Value -660,816.87
Shares Outstanding 46.99
Equity Value Per Share -14,061.94