Discounted Cash Flow (DCF) Analysis Unlevered

Ecofin Sustainable and Social Impac... (TEAF)

$12.19

-0.02 (-0.16%)
All numbers are in Millions, Currency in USD
Stock DCF: -47.41 | 12.19 | overvalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue -20.82-7.0730.804.79-6.177.94-10.2213.16-16.94
Revenue (%)
EBITDA -22.53-8.1929.634.22-6.308.11-10.4413.44-17.30
EBITDA (%)
EBIT -----6.308.11-10.4413.44-17.30
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 0.380.140.210.040.03-0.040.06-0.070.10
Total Cash (%)
Account Receivables 2.132.744.902.11-0.170.22-0.280.36-0.47
Account Receivables (%)
Inventories ---------
Inventories (%)
Accounts Payable 0.940.532.72-0.050.07-0.090.11-0.140.18
Accounts Payable (%)
Capital Expenditure ---------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 12.19
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 4.597
Total Debt 29.50
Total Equity 164.70
Total Capital 194.20
Debt Weighting 15.19
Equity Weighting 84.81
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 -20.82-7.0730.804.79-6.177.94-10.2213.16-16.94
EBITDA -22.53-8.1929.634.22-6.308.11-10.4413.44-17.30
EBIT -----6.308.11-10.4413.44-17.30
Tax Rate 1.86%-7.26%-0.23%-1.63%-1.81%-1.81%-1.81%-1.81%-1.81%
EBIAT -----6.418.25-10.6313.68-17.61
Depreciation ---------
Accounts Receivable --0.61-2.162.792.28-0.390.50-0.640.83
Inventories ---------
Accounts Payable --0.412.19-2.770.12-0.150.20-0.250.32
Capital Expenditure ---------
UFCF -----4.017.72-9.9312.79-16.46
WACC
PV UFCF -4.017.40-9.1411.28-13.93
SUM PV UFCF -8.06

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.26
Free cash flow (t + 1) -16.79
Terminal Value -742.90
Present Value of Terminal Value -603.03

Intrinsic Value

Enterprise Value -611.09
Net Debt 29.46
Equity Value -640.55
Shares Outstanding 13.51
Equity Value Per Share -47.41