Discounted Cash Flow (DCF) Analysis Unlevered

Nuveen Intermediate Duration Qualit... (NIQ)

$12.17

-0.05 (-0.41%)
All numbers are in Millions, Currency in USD
Stock DCF: 2,089.65 | 12.17 | undervalue

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 8.812.4213.425.8714.1130.5566.13143.18309.99671.13
Revenue (%)
EBITDA -2.353.3414.586.8914.4826.8858.20126.01272.81590.64
EBITDA (%)
EBIT -----26.8858.20126.01272.81590.64
EBIT (%)
Depreciation ----------
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Projected
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash -2.270.120.432.709.2420.0143.3293.80203.08
Total Cash (%)
Account Receivables -5.764.504.253.9628.4161.51133.18288.34624.26
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable -13.300.510.443.1544.5396.41208.73451.91978.40
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 12.17
Beta 0.096
Diluted Shares Outstanding 13.15
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.438
Total Debt -
Total Equity 160.01
Total Capital 160.01
Debt Weighting 0.00
Equity Weighting 100.00
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 8.812.4213.425.8714.1130.5566.13143.18309.99671.13
EBITDA -2.353.3414.586.8914.4826.8858.20126.01272.81590.64
EBIT -----26.8858.20126.01272.81590.64
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----26.8858.20126.01272.81590.64
Depreciation ----------
Accounts Receivable --1.260.260.29-24.45-33.10-71.67-155.16-335.92
Inventories ----------
Accounts Payable ---12.79-0.072.7141.3851.88112.32243.18526.49
Capital Expenditure ----------
UFCF -----43.8176.98166.66360.83781.21
WACC
PV UFCF 41.9570.57146.30303.28628.69
SUM PV UFCF 1,190.79

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.44
Free cash flow (t + 1) 796.83
Terminal Value 32,657.15
Present Value of Terminal Value 26,281.13

Intrinsic Value

Enterprise Value 27,471.92
Net Debt -2.70
Equity Value 27,474.61
Shares Outstanding 13.15
Equity Value Per Share 2,089.65