Discounted Cash Flow (DCF) Analysis Unlevered

PIMCO Income Strategy Fund II (PFN)

$8.34

+0.12 (+1.46%)
All numbers are in Millions, Currency in USD
Stock DCF: -54,493.32 | 8.34 | overvalue

Operating Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue -32.24134.52-561.282,341.87-9,771.2040,769.23-170,105.11
Revenue (%)
EBITDA -29.64135.93-541.542,259.50-9,427.5139,335.26-164,122.01
EBITDA (%)
EBIT ---541.542,259.50-9,427.5139,335.26-164,122.01
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 -------
Total Cash (%)
Account Receivables 37.4128.99265.15-1,106.324,616-19,259.7780,359.25
Account Receivables (%)
Inventories -------
Inventories (%)
Accounts Payable 62.7048.23445.16-1,857.397,749.77-32,335.04134,914.38
Accounts Payable (%)
Capital Expenditure -------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 8.34
Beta 0.658
Diluted Shares Outstanding 73.41
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.51%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.944
Total Debt 326.55
Total Equity 612.25
Total Capital 938.80
Debt Weighting 34.78
Equity Weighting 65.22
Wacc

Build Up Free Cash

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue -32.24134.52-561.282,341.87-9,771.2040,769.23-170,105.11
EBITDA -29.64135.93-541.542,259.50-9,427.5139,335.26-164,122.01
EBIT ---541.542,259.50-9,427.5139,335.26-164,122.01
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ---541.542,259.50-9,427.5139,335.26-164,122.01
Depreciation -------
Accounts Receivable -8.42-236.171,371.47-5,722.3323,875.77-99,619.02
Inventories -------
Accounts Payable --14.47396.93-2,302.569,607.16-40,084.81167,249.43
Capital Expenditure -------
UFCF ---380.771,328.42-5,542.6823,126.22-96,491.61
WACC
PV UFCF -412.241,382.22-5,542.6822,226.07-89,126.20
SUM PV UFCF -63,447.53

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.05
Free cash flow (t + 1) -98,421.44
Terminal Value -4,801,045.85
Present Value of Terminal Value -3,936,637.55

Intrinsic Value

Enterprise Value -4,000,085.08
Net Debt 326.55
Equity Value -4,000,411.63
Shares Outstanding 73.41
Equity Value Per Share -54,493.32