Discounted Cash Flow (DCF) Analysis Unlevered

PACE International Equity Investmen... (PWGAX)

$17.75

+0.19 (+1.08%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 17.75 | undervalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 197.02127.8566.285863.1449.4238.6930.2823.7018.55
Revenue (%)
EBITDA 72.3342.824.19-5.348.5886.264.903.843
EBITDA (%)
EBIT 23.6314.13-15.91-23.11-9.23-5.48-4.29-3.36-2.63-2.06
EBIT (%)
Depreciation 48.7028.6820.1017.7717.8113.4810.558.266.465.06
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 2,400.802,795.642,987.232,8012,582.221,663.701,302.281,019.37797.92624.58
Total Cash (%)
Account Receivables 51.0919.5514.7015.5516.0111.428.9475.484.29
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 58.3037.1520.5919.7625.9316.3012.769.987.826.12
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 17.75
Beta 1.000
Diluted Shares Outstanding 112.83
Cost of Debt
Tax Rate 22.57
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.879
Total Debt -
Total Equity 2,002.64
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 197.02127.8566.285863.1449.4238.6930.2823.7018.55
EBITDA 72.3342.824.19-5.348.5886.264.903.843
EBIT 23.6314.13-15.91-23.11-9.23-5.48-4.29-3.36-2.63-2.06
Tax Rate 4.07%1.91%2.00%-49.51%22.57%-3.79%-3.79%-3.79%-3.79%-3.79%
EBIAT 22.6613.86-15.59-34.55-7.15-5.69-4.45-3.48-2.73-2.13
Depreciation 48.7028.6820.1017.7717.8113.4810.558.266.465.06
Accounts Receivable -31.544.85-0.85-0.464.592.481.941.521.19
Inventories ----------
Accounts Payable --21.15-16.57-0.836.17-9.64-3.54-2.77-2.17-1.70
Capital Expenditure ----------
UFCF -----2.745.043.943.092.42
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 2.46
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -2,582.22
Equity Value -
Shares Outstanding 112.83
Equity Value Per Share -