Discounted Cash Flow (DCF) Analysis Unlevered

PIMCO Income Strategy Fund (PFL)

$8.14

-0.28 (-3.33%)
All numbers are in Millions, Currency in USD
Stock DCF: -87,603.04 | 8.14 | overvalue

Operating Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue -15.4173.27-348.381,656.59-7,877.1937,456.51-178,108.05
Revenue (%)
EBITDA -14.1674-336.011,597.76-7,597.4336,126.25-171,782.55
EBITDA (%)
EBIT ---336.011,597.76-7,597.4336,126.25-171,782.55
EBIT (%)
Depreciation -------
Depreciation (%)

Balance Sheet Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 5.9311.8238.94-185.15880.41-4,186.4219,906.70
Total Cash (%)
Account Receivables 10.0336.5026.64-126.70602.45-2,864.6813,621.72
Account Receivables (%)
Inventories -------
Inventories (%)
Accounts Payable 22.6132.32178.76-849.994,041.76-19,218.8491,386.80
Accounts Payable (%)
Capital Expenditure -------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 8.14
Beta 0.670
Diluted Shares Outstanding 32.76
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.49%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.861
Total Debt 181.44
Total Equity 266.63
Total Capital 448.06
Debt Weighting 40.49
Equity Weighting 59.51
Wacc

Build Up Free Cash

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue -15.4173.27-348.381,656.59-7,877.1937,456.51-178,108.05
EBITDA -14.1674-336.011,597.76-7,597.4336,126.25-171,782.55
EBIT ---336.011,597.76-7,597.4336,126.25-171,782.55
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ---336.011,597.76-7,597.4336,126.25-171,782.55
Depreciation -------
Accounts Receivable --26.469.85153.34-729.143,467.13-16,486.40
Inventories -------
Accounts Payable -9.71146.43-1,028.754,891.76-23,260.61110,605.64
Capital Expenditure -------
UFCF ---179.73722.35-3,434.8216,332.77-77,663.32
WACC
PV UFCF -195.44753.27-3,434.8215,662.41-71,419.02
SUM PV UFCF -51,706.30

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.28
Free cash flow (t + 1) -79,216.59
Terminal Value -3,474,411.65
Present Value of Terminal Value -2,817,579.38

Intrinsic Value

Enterprise Value -2,869,285.68
Net Debt 169.62
Equity Value -2,869,455.30
Shares Outstanding 32.76
Equity Value Per Share -87,603.04