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
Stock DCF: 244.30 | 12.5 | undervalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 7.83-7.0730.804.79-8.1513.87-23.5940.14-68.30
Revenue (%)
EBITDA -49.41-7.7029.934.226.86-11.6719.85-33.7857.48
EBITDA (%)
EBIT ----6.86-11.6719.85-33.7857.48
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 0.380.140.310.04-0.100.16-0.280.48-0.81
Total Cash (%)
Account Receivables 0.372.744.902.11-0.530.90-1.532.60-4.43
Account Receivables (%)
Inventories ---------
Inventories (%)
Accounts Payable 1.560.533.320.37-0.631.07-1.833.11-5.28
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 7.83-7.0730.804.79-8.1513.87-23.5940.14-68.30
EBITDA -49.41-7.7029.934.226.86-11.6719.85-33.7857.48
EBIT ----6.86-11.6719.85-33.7857.48
Tax Rate 1.86%-7.26%-0.23%-1.63%-1.81%-1.81%-1.81%-1.81%-1.81%
EBIAT ----6.98-11.8820.22-34.3958.52
Depreciation ---------
Accounts Receivable --2.37-2.162.792.64-1.432.43-4.137.03
Inventories ---------
Accounts Payable --1.032.79-2.95-11.70-2.904.93-8.39
Capital Expenditure ---------
UFCF ----8.62-11.6019.74-33.5957.16
WACC
PV UFCF 8.62-11.2118.44-30.3149.83
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