Discounted Cash Flow (DCF) Analysis Unlevered

Sprott Physical Gold Trust (PHYS)

$12.52

-0.22 (-1.73%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 12.52 | undervalue

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 258.03-53.83363.48750.04-194.82251.21-323.91417.66-538.54694.39
Revenue (%)
EBITDA 255.38-56.17360.21747.13-197.99253.06-326.29420.73-542.49699.50
EBITDA (%)
EBIT -----253.06-326.29420.73-542.49699.50
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 1.303.074.934.406.98-3.434.43-5.717.36-9.49
Total Cash (%)
Account Receivables 0-00.010.01-00-0.010.01-0.010.01
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.300.590.420.190.04-0.430.55-0.710.91-1.18
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 12.52
Beta -0.218
Diluted Shares Outstanding 333.58
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 2.850
Total Debt -
Total Equity 4,176.45
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 258.03-53.83363.48750.04-194.82251.21-323.91417.66-538.54694.39
EBITDA 255.38-56.17360.21747.13-197.99253.06-326.29420.73-542.49699.50
EBIT -----253.06-326.29420.73-542.49699.50
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -----253.06-326.29420.73-542.49699.50
Depreciation ----------
Accounts Receivable -0-0.01-0.010.02-0.010.01-0.010.02-0.02
Inventories ----------
Accounts Payable -0.28-0.16-0.24-0.15-0.470.98-1.261.62-2.09
Capital Expenditure ----------
UFCF -----252.58-325.31419.46-540.85697.38
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 711.33
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -6.98
Equity Value -
Shares Outstanding 333.58
Equity Value Per Share -