Discounted Cash Flow (DCF) Analysis Unlevered

RiverNorth/DoubleLine Strategic Opp... (OPP)

$9.44

+0.05 (+0.53%)
All numbers are in Millions, Currency in USD
Stock DCF: -63.60 | 9.44 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 5.6215.77-10.27-11.06-11.91-12.82-13.81-14.87
Revenue (%)
EBITDA 6.5117.14-9.59-11.72-12.62-13.59-14.63-15.76
EBITDA (%)
EBIT ----11.72-12.62-13.59-14.63-15.76
EBIT (%)
Depreciation --------
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash -0.030.100.040.040.050.050.06
Total Cash (%)
Account Receivables 1.181.601.62-0.57-0.61-0.66-0.71-0.76
Account Receivables (%)
Inventories --------
Inventories (%)
Accounts Payable 2.131.140.15-1.61-1.73-1.87-2.01-2.16
Accounts Payable (%)
Capital Expenditure --------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 9.44
Beta 0.107
Diluted Shares Outstanding 14.87
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 2.83%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.033
Total Debt 65.50
Total Equity 140.36
Total Capital 205.86
Debt Weighting 31.82
Equity Weighting 68.18
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 5.6215.77-10.27-11.06-11.91-12.82-13.81-14.87
EBITDA 6.5117.14-9.59-11.72-12.62-13.59-14.63-15.76
EBIT ----11.72-12.62-13.59-14.63-15.76
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ----11.72-12.62-13.59-14.63-15.76
Depreciation --------
Accounts Receivable --0.41-0.022.190.040.050.050.05
Inventories --------
Accounts Payable --0.98-1-1.76-0.12-0.13-0.14-0.15
Capital Expenditure --------
UFCF ----11.28-12.70-13.67-14.72-15.86
WACC
PV UFCF -11.69-12.70-13.19-13.71-14.24
SUM PV UFCF -60.99

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.65
Free cash flow (t + 1) -16.17
Terminal Value -980.18
Present Value of Terminal Value -819.33

Intrinsic Value

Enterprise Value -880.33
Net Debt 65.40
Equity Value -945.73
Shares Outstanding 14.87
Equity Value Per Share -63.60