Discounted Cash Flow (DCF) Analysis Unlevered

PIMCO Global StocksPLUS & Income Fu... (PGP)

$6.91

-0.03 (-0.43%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,370.45 | 6.91 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 9.748.01-14.4941.91-54.2070.09-90.64117.21-151.58
Revenue (%)
EBITDA 10.538.68-14.0242.24-56.0972.54-93.81121.32-156.90
EBITDA (%)
EBIT 10.779.17-13.4342.87-56.9173.59-95.17123.08-159.17
EBIT (%)
Depreciation -0.25-0.48-0.59-0.630.81-1.051.36-1.762.27
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash --0.850.711.12-1.451.88-2.433.14
Total Cash (%)
Account Receivables 10.7572.2949.6656.09-108.99140.95-182.28235.73-304.86
Account Receivables (%)
Inventories ---------
Inventories (%)
Accounts Payable 43.62109.4580.8693.18-200.39259.15-335.14433.42-560.50
Accounts Payable (%)
Capital Expenditure ---------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 6.91
Beta 1.025
Diluted Shares Outstanding 11.02
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 0.66%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.666
Total Debt 56.12
Total Equity 76.14
Total Capital 132.26
Debt Weighting 42.43
Equity Weighting 57.57
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 9.748.01-14.4941.91-54.2070.09-90.64117.21-151.58
EBITDA 10.538.68-14.0242.24-56.0972.54-93.81121.32-156.90
EBIT 10.779.17-13.4342.87-56.9173.59-95.17123.08-159.17
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT 10.779.17-13.4342.87-56.9173.59-95.17123.08-159.17
Depreciation -0.25-0.48-0.59-0.630.81-1.051.36-1.762.27
Accounts Receivable --61.5422.63-6.43165.09-249.95323.24-418.02540.59
Inventories ---------
Accounts Payable -65.83-28.5812.32-293.57459.55-594.30768.56-993.92
Capital Expenditure ---------
UFCF -----184.58282.14-364.87471.86-610.23
WACC
PV UFCF -184.58268.02-329.26404.49-496.90
SUM PV UFCF -321.31

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.27
Free cash flow (t + 1) -622.43
Terminal Value -19,034.56
Present Value of Terminal Value -14,723.79

Intrinsic Value

Enterprise Value -15,045.10
Net Debt 55.41
Equity Value -15,100.51
Shares Outstanding 11.02
Equity Value Per Share -1,370.45