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
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 | -7.07 | 30.80 | 4.79 | -6.17 | 7.94 | -10.22 | 13.16 | -16.94 |
---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||
EBITDA | -22.53 | -8.19 | 29.63 | 4.22 | -6.30 | 8.11 | -10.44 | 13.44 | -17.30 |
EBITDA (%) | |||||||||
EBIT | - | - | - | - | -6.30 | 8.11 | -10.44 | 13.44 | -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 | 0.38 | 0.14 | 0.21 | 0.04 | 0.03 | -0.04 | 0.06 | -0.07 | 0.10 |
---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | |||||||||
Account Receivables | 2.13 | 2.74 | 4.90 | 2.11 | -0.17 | 0.22 | -0.28 | 0.36 | -0.47 |
Account Receivables (%) | |||||||||
Inventories | - | - | - | - | - | - | - | - | - |
Inventories (%) | |||||||||
Accounts Payable | 0.94 | 0.53 | 2.72 | -0.05 | 0.07 | -0.09 | 0.11 | -0.14 | 0.18 |
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 | -7.07 | 30.80 | 4.79 | -6.17 | 7.94 | -10.22 | 13.16 | -16.94 |
---|---|---|---|---|---|---|---|---|---|
EBITDA | -22.53 | -8.19 | 29.63 | 4.22 | -6.30 | 8.11 | -10.44 | 13.44 | -17.30 |
EBIT | - | - | - | - | -6.30 | 8.11 | -10.44 | 13.44 | -17.30 |
Tax Rate | 1.86% | -7.26% | -0.23% | -1.63% | -1.81% | -1.81% | -1.81% | -1.81% | -1.81% |
EBIAT | - | - | - | - | -6.41 | 8.25 | -10.63 | 13.68 | -17.61 |
Depreciation | - | - | - | - | - | - | - | - | - |
Accounts Receivable | - | -0.61 | -2.16 | 2.79 | 2.28 | -0.39 | 0.50 | -0.64 | 0.83 |
Inventories | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | -0.41 | 2.19 | -2.77 | 0.12 | -0.15 | 0.20 | -0.25 | 0.32 |
Capital Expenditure | - | - | - | - | - | - | - | - | - |
UFCF | - | - | - | - | -4.01 | 7.72 | -9.93 | 12.79 | -16.46 |
WACC | |||||||||
PV UFCF | -4.01 | 7.40 | -9.14 | 11.28 | -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 |