Discounted Cash Flow (DCF) Analysis Unlevered

RiverNorth/DoubleLine Strategic Opp... (OPP)

$8.935

+0.02 (+0.17%)
All numbers are in Millions, Currency in USD
Stock DCF: 9.41 | 8.935 | undervalue

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 5.6215.77-10.2737.41-32.1518.88-11.096.51-3.832.25
Revenue (%)
EBITDA 6.5117.14-9.5936.83-33.1919.62-11.526.77-3.982.34
EBITDA (%)
EBIT -----19.62-11.526.77-3.982.34
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 -0.030.102.010.010.22-0.130.07-0.040.03
Total Cash (%)
Account Receivables 1.181.601.623.6620.71-0.420.25-0.140.08
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.131.140.1511.850.682.77-1.620.95-0.560.33
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 8.935
Beta 0.107
Diluted Shares Outstanding 13.29
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1,116.56%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.144
Total Debt 0.01
Total Equity 118.74
Total Capital 118.75
Debt Weighting 0.01
Equity Weighting 99.99
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 5.6215.77-10.2737.41-32.1518.88-11.096.51-3.832.25
EBITDA 6.5117.14-9.5936.83-33.1919.62-11.526.77-3.982.34
EBIT -----19.62-11.526.77-3.982.34
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----19.62-11.526.77-3.982.34
Depreciation ----------
Accounts Receivable --0.41-0.02-2.041.661.291.13-0.670.39-0.23
Inventories ----------
Accounts Payable --0.98-111.71-11.172.08-4.392.58-1.510.89
Capital Expenditure ----------
UFCF -----22.99-14.788.68-5.102.99
WACC
PV UFCF 22.06-13.607.66-4.322.43
SUM PV UFCF 14.23

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.24
Free cash flow (t + 1) 3.05
Terminal Value 136.37
Present Value of Terminal Value 110.81

Intrinsic Value

Enterprise Value 125.04
Net Debt -0
Equity Value 125.04
Shares Outstanding 13.29
Equity Value Per Share 9.41