Discounted Cash Flow (DCF) Analysis Unlevered
Nuveen Intermediate Duration Qualit... (NIQ)
$12.51
-0.01 (-0.08%)
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 | 2.42 | 13.42 | 5.87 | 14.11 | -13.09 | -24.41 | -45.51 | -84.85 | -158.19 | -294.92 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | 3.34 | 14.58 | 6.89 | 14.48 | -12.66 | -27.50 | -51.28 | -95.60 | -178.24 | -332.32 |
EBITDA (%) | ||||||||||
EBIT | - | - | - | - | - | -27.50 | -51.28 | -95.60 | -178.24 | -332.32 |
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 | 2.27 | 0.12 | 0.43 | 2.70 | 1.01 | -5.53 | -10.31 | -19.23 | -35.85 | -66.85 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | 5.76 | 4.50 | 4.25 | 3.96 | 9.12 | -14.76 | -27.52 | -51.32 | -95.68 | -178.38 |
Account Receivables (%) | ||||||||||
Inventories | - | - | - | - | - | - | - | - | - | - |
Inventories (%) | ||||||||||
Accounts Payable | 13.30 | 0.51 | 0.44 | 3.15 | 2.59 | -27.50 | -51.28 | -95.60 | -178.24 | -332.31 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 12.51 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 13.01 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 5.00% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 3.500 |
Total Debt | - |
Total Equity | 162.81 |
Total Capital | 162.81 |
Debt Weighting | 0.00 |
Equity Weighting | 100.00 |
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 | 2.42 | 13.42 | 5.87 | 14.11 | -13.09 | -24.41 | -45.51 | -84.85 | -158.19 | -294.92 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 3.34 | 14.58 | 6.89 | 14.48 | -12.66 | -27.50 | -51.28 | -95.60 | -178.24 | -332.32 |
EBIT | - | - | - | - | - | -27.50 | -51.28 | -95.60 | -178.24 | -332.32 |
Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EBIAT | - | - | - | - | - | -27.50 | -51.28 | -95.60 | -178.24 | -332.32 |
Depreciation | - | - | - | - | - | - | - | - | - | - |
Accounts Receivable | - | 1.26 | 0.26 | 0.29 | -5.16 | 23.88 | 12.76 | 23.79 | 44.36 | 82.70 |
Inventories | - | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | -12.79 | -0.07 | 2.71 | -0.56 | -30.09 | -23.77 | -44.32 | -82.64 | -154.07 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
UFCF | - | - | - | - | - | -33.71 | -62.29 | -116.14 | -216.52 | -403.69 |
WACC | ||||||||||
PV UFCF | -32.57 | -58.15 | -104.75 | -188.69 | -339.89 | |||||
SUM PV UFCF | -724.05 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.50 |
Free cash flow (t + 1) | -411.76 |
Terminal Value | -27,450.63 |
Present Value of Terminal Value | -23,112.69 |
Intrinsic Value
Enterprise Value | -23,836.74 |
---|---|
Net Debt | -1.01 |
Equity Value | -23,835.73 |
Shares Outstanding | 13.01 |
Equity Value Per Share | -1,831.48 |