Discounted Cash Flow (DCF) Analysis Unlevered

Nuveen Georgia Quality Municipal In... (NKG)

$10.57

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,000,689.96 | 10.57 | 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 0.260.459.995.7710.3567.70443.022,899.0318,970.51124,138.02
Revenue (%)
EBITDA 1.591.8711.717.2110.84187.321,225.748,020.9452,486.89343,460.43
EBITDA (%)
EBIT -----187.321,225.748,020.9452,486.89343,460.43
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 -0.510.550.561.4323.85156.061,021.216,682.5643,728.89
Total Cash (%)
Account Receivables 6.355.504.883.612.99519.783,401.2822,257.10145,644.64953,060.22
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.600.560.500.470.5751.17334.822,190.9914,337.2893,819.39
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 10.57
Beta 0.324
Diluted Shares Outstanding 10.40
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.046
Total Debt -
Total Equity 109.94
Total Capital 109.94
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 0.260.459.995.7710.3567.70443.022,899.0318,970.51124,138.02
EBITDA 1.591.8711.717.2110.84187.321,225.748,020.9452,486.89343,460.43
EBIT -----187.321,225.748,020.9452,486.89343,460.43
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----187.321,225.748,020.9452,486.89343,460.43
Depreciation ----------
Accounts Receivable -0.850.621.280.62-516.79-2,881.51-18,855.82-123,387.54-807,415.58
Inventories ----------
Accounts Payable --0.05-0.06-0.020.0950.60283.661,856.1712,146.2979,482.11
Capital Expenditure ----------
UFCF ------278.87-1,372.11-8,978.72-58,754.35-384,473.05
WACC
PV UFCF -265.47-1,243.36-7,745.08-48,245.39-300,528.47
SUM PV UFCF -358,027.77

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.05
Free cash flow (t + 1) -392,162.51
Terminal Value -12,857,787.10
Present Value of Terminal Value -10,050,460.17

Intrinsic Value

Enterprise Value -10,408,487.93
Net Debt -1.43
Equity Value -10,408,486.50
Shares Outstanding 10.40
Equity Value Per Share -1,000,689.96