Discounted Cash Flow (DCF) Analysis Unlevered
B. Riley Financial, Inc. 5.25% Seni... (RILYZ)
$16.65
+0.23 (+1.40%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2013 Actual | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||||||
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA (%) | |||||||||||||||
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT (%) | |||||||||||||||
| Depreciation | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2013 Projected | 2014 Projected | 2015 Projected | 2016 Projected | 2017 Projected | 2018 Projected | 2019 Projected | 2020 Projected | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Total Cash | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | |||||||||||||||
| Account Receivables | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | |||||||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | |||||||||||||||
| Accounts Payable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable (%) | |||||||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 16.65 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 28.19 |
| Cost of Debt | |
| Tax Rate | 23.87 |
| After-tax Cost of Debt | 2,564.84% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.691 |
| Total Debt | 1.97 |
| Total Equity | 469.34 |
| Total Capital | 471.31 |
| Debt Weighting | 0.42 |
| Equity Weighting | 99.58 |
| Wacc |
Build Up Free Cash
Year A/P | 2013 Actual | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Tax Rate | 25.27% | 25.27% | 25.27% | 25.27% | 25.27% | 25.27% | 25.27% | 25.27% | 26.67% | 23.87% | 25.27% | 25.27% | 25.27% | 25.27% | 25.27% |
| EBIAT | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Depreciation | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventories | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure | - | - | - | - | - | - | - | - | -0 | -3.92 | - | - | - | - | - |
| UFCF | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| WACC | |||||||||||||||
| PV UFCF | - | - | - | - | - | ||||||||||
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 14.42 |
| Free cash flow (t + 1) | - |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | 1.71 |
| Equity Value | - |
| Shares Outstanding | 28.19 |
| Equity Value Per Share | - |