Discounted Cash Flow (DCF) Analysis Unlevered
Ecofin Sustainable and Social Impac... (TEAF)
$12.5
+0.11 (+0.89%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 7.83 | -7.07 | 30.80 | 4.79 | -8.15 | 13.87 | -23.59 | 40.14 | -68.30 |
---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||
EBITDA | -49.41 | -7.70 | 29.93 | 4.22 | 6.86 | -11.67 | 19.85 | -33.78 | 57.48 |
EBITDA (%) | |||||||||
EBIT | - | - | - | - | 6.86 | -11.67 | 19.85 | -33.78 | 57.48 |
EBIT (%) | |||||||||
Depreciation | - | - | - | - | - | - | - | - | - |
Depreciation (%) |
Balance Sheet Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Total Cash | 0.38 | 0.14 | 0.31 | 0.04 | -0.10 | 0.16 | -0.28 | 0.48 | -0.81 |
---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | |||||||||
Account Receivables | 0.37 | 2.74 | 4.90 | 2.11 | -0.53 | 0.90 | -1.53 | 2.60 | -4.43 |
Account Receivables (%) | |||||||||
Inventories | - | - | - | - | - | - | - | - | - |
Inventories (%) | |||||||||
Accounts Payable | 1.56 | 0.53 | 3.32 | 0.37 | -0.63 | 1.07 | -1.83 | 3.11 | -5.28 |
Accounts Payable (%) | |||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 12.5 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 13.51 |
Cost of Debt | |
Tax Rate | -1.63 |
After-tax Cost of Debt | 2.37% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 3.691 |
Total Debt | 29.50 |
Total Equity | 168.88 |
Total Capital | 198.38 |
Debt Weighting | 14.87 |
Equity Weighting | 85.13 |
Wacc |
Build Up Free Cash
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 7.83 | -7.07 | 30.80 | 4.79 | -8.15 | 13.87 | -23.59 | 40.14 | -68.30 |
---|---|---|---|---|---|---|---|---|---|
EBITDA | -49.41 | -7.70 | 29.93 | 4.22 | 6.86 | -11.67 | 19.85 | -33.78 | 57.48 |
EBIT | - | - | - | - | 6.86 | -11.67 | 19.85 | -33.78 | 57.48 |
Tax Rate | 1.86% | -7.26% | -0.23% | -1.63% | -1.81% | -1.81% | -1.81% | -1.81% | -1.81% |
EBIAT | - | - | - | - | 6.98 | -11.88 | 20.22 | -34.39 | 58.52 |
Depreciation | - | - | - | - | - | - | - | - | - |
Accounts Receivable | - | -2.37 | -2.16 | 2.79 | 2.64 | -1.43 | 2.43 | -4.13 | 7.03 |
Inventories | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | -1.03 | 2.79 | -2.95 | -1 | 1.70 | -2.90 | 4.93 | -8.39 |
Capital Expenditure | - | - | - | - | - | - | - | - | - |
UFCF | - | - | - | - | 8.62 | -11.60 | 19.74 | -33.59 | 57.16 |
WACC | |||||||||
PV UFCF | 8.62 | -11.21 | 18.44 | -30.31 | 49.83 | ||||
SUM PV UFCF | 34.17 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.49 |
Free cash flow (t + 1) | 58.30 |
Terminal Value | 3,912.74 |
Present Value of Terminal Value | 3,296.02 |
Intrinsic Value
Enterprise Value | 3,330.19 |
---|---|
Net Debt | 29.46 |
Equity Value | 3,300.73 |
Shares Outstanding | 13.51 |
Equity Value Per Share | 244.30 |