Discounted Cash Flow (DCF) Analysis Unlevered
Tri-Continental Corporation (TY)
$27.28
-0.15 (-0.55%)
All numbers are in Millions, Currency in USD
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 | 282.16 | -72.27 | 342.46 | 198.99 | 436.67 | -242.29 | 134.44 | -74.60 | 41.39 | -22.97 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | 280.96 | -73.45 | 341.30 | 197.96 | 435.70 | -242.36 | 134.48 | -74.62 | 41.40 | -22.97 |
| EBITDA (%) | ||||||||||
| EBIT | - | - | - | 197.96 | 435.70 | -242.36 | 134.48 | -74.62 | 41.40 | -22.97 |
| EBIT (%) | ||||||||||
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| 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 | - | - | - | 0.12 | 0.27 | -0.15 | 0.08 | -0.05 | 0.03 | -0.01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 9.79 | 12.70 | 8.87 | 9.81 | 8.32 | 2.27 | -1.26 | 0.70 | -0.39 | 0.21 |
| Account Receivables (%) | ||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | ||||||||||
| Accounts Payable | 0.47 | 4.06 | 2.19 | 1.09 | 2.12 | 1.83 | -1.02 | 0.56 | -0.31 | 0.17 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 27.28 |
|---|---|
| Beta | 0.969 |
| Diluted Shares Outstanding | 52.18 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.058 |
| Total Debt | - |
| Total Equity | 1,423.47 |
| Total Capital | - |
| Debt Weighting | - |
| Equity Weighting | - |
| 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 | 282.16 | -72.27 | 342.46 | 198.99 | 436.67 | -242.29 | 134.44 | -74.60 | 41.39 | -22.97 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 280.96 | -73.45 | 341.30 | 197.96 | 435.70 | -242.36 | 134.48 | -74.62 | 41.40 | -22.97 |
| EBIT | - | - | - | 197.96 | 435.70 | -242.36 | 134.48 | -74.62 | 41.40 | -22.97 |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | - | - | - | 197.96 | 435.70 | -242.36 | 134.48 | -74.62 | 41.40 | -22.97 |
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | -2.91 | 3.83 | -0.94 | 1.49 | 6.06 | 3.53 | -1.96 | 1.09 | -0.60 |
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | 3.59 | -1.87 | -1.09 | 1.03 | -0.29 | -2.85 | 1.58 | -0.88 | 0.49 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| UFCF | - | - | - | 195.92 | 438.22 | -236.59 | 135.16 | -74.99 | 41.61 | -23.09 |
| WACC | ||||||||||
| PV UFCF | - | - | - | - | - | |||||
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | -23.55 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | - |
| Equity Value | - |
| Shares Outstanding | 52.18 |
| Equity Value Per Share | - |