Discounted Cash Flow (DCF) Analysis Unlevered

Global Self Storage, Inc. (SELF)

$5.03

+0.05 (+1.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 17.96 | 5.03 | 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 7.478.118.679.2010.5111.4512.4713.5914.8016.13
Revenue (%)
EBITDA 2.432.923.113.445.964.554.955.395.886.40
EBITDA (%)
EBIT 0.731.521.671.454.332.402.612.853.103.38
EBIT (%)
Depreciation 1.701.401.441.991.632.152.342.552.783.02
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 3.703.095.753.536.385.806.316.887.498.16
Total Cash (%)
Account Receivables 0.100.070.160.110.120.150.160.170.190.21
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable ----------
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 5.03
Beta 0.247
Diluted Shares Outstanding 10
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.84%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.677
Total Debt 17.92
Total Equity 50.32
Total Capital 68.24
Debt Weighting 26.26
Equity Weighting 73.74
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 7.478.118.679.2010.5111.4512.4713.5914.8016.13
EBITDA 2.432.923.113.445.964.554.955.395.886.40
EBIT 0.731.521.671.454.332.402.612.853.103.38
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT 0.731.521.671.454.332.402.612.853.103.38
Depreciation 1.701.401.441.991.632.152.342.552.783.02
Accounts Receivable -0.04-0.100.06-0.01-0.03-0.01-0.01-0.02-0.02
Inventories ----------
Accounts Payable ----------
Capital Expenditure ----------
UFCF -----4.524.945.385.866.39
WACC
PV UFCF 4.304.484.654.835.01
SUM PV UFCF 23.27

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.98
Free cash flow (t + 1) 6.51
Terminal Value 218.57
Present Value of Terminal Value 171.42

Intrinsic Value

Enterprise Value 194.69
Net Debt 15.02
Equity Value 179.67
Shares Outstanding 10
Equity Value Per Share 17.96