Discounted Cash Flow (DCF) Analysis Unlevered
Oxford Lane Capital Corp. (OXLCP)
$23.1
+0.07 (+0.30%)
All numbers are in Millions, Currency in USD
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 | 107.41 | 40.42 | -18.57 | -288.16 | 293.35 | 1,057.12 | 3,809.40 | 13,727.41 | 49,467.63 | 178,259.87 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | 116.91 | 51.41 | -5.93 | -275.65 | 306.21 | 989.46 | 3,565.58 | 12,848.79 | 46,301.48 | 166,850.44 |
| EBITDA (%) | ||||||||||
| EBIT | - | - | - | - | - | 989.46 | 3,565.58 | 12,848.79 | 46,301.48 | 166,850.44 |
| 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 | 14.02 | 20.33 | 21.47 | 11.66 | 90.87 | -53.57 | -193.05 | -695.66 | -2,506.84 | -9,033.57 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 5.90 | 5.33 | 8.63 | 11.15 | 17.26 | -54.42 | -196.12 | -706.73 | -2,546.75 | -9,177.38 |
| Account Receivables (%) | ||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | ||||||||||
| Accounts Payable | 1.83 | 0.53 | 0.62 | 0.01 | 0.30 | -0.54 | -1.94 | -7 | -25.21 | -90.86 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 23.1 |
|---|---|
| Beta | 1.092 |
| Diluted Shares Outstanding | - |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 16.86% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.687 |
| Total Debt | 96.57 |
| Total Equity | - |
| Total Capital | - |
| Debt Weighting | - |
| Equity Weighting | - |
| 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 | 107.41 | 40.42 | -18.57 | -288.16 | 293.35 | 1,057.12 | 3,809.40 | 13,727.41 | 49,467.63 | 178,259.87 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 116.91 | 51.41 | -5.93 | -275.65 | 306.21 | 989.46 | 3,565.58 | 12,848.79 | 46,301.48 | 166,850.44 |
| EBIT | - | - | - | - | - | 989.46 | 3,565.58 | 12,848.79 | 46,301.48 | 166,850.44 |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | - | - | - | - | - | 989.46 | 3,565.58 | 12,848.79 | 46,301.48 | 166,850.44 |
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | 0.57 | -3.29 | -2.52 | -6.11 | 71.68 | 141.70 | 510.61 | 1,840.02 | 6,630.63 |
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | -1.30 | 0.09 | -0.61 | 0.29 | -0.84 | -1.40 | -5.06 | -18.22 | -65.64 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| UFCF | - | - | - | - | - | 1,060.30 | 3,705.87 | 13,354.35 | 48,123.28 | 173,415.43 |
| WACC | ||||||||||
| PV UFCF | - | - | - | - | - | |||||
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | 176,883.74 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | 5.71 |
| Equity Value | - |
| Shares Outstanding | - |
| Equity Value Per Share | - |