Discounted Cash Flow (DCF) Analysis Unlevered

UMH Properties, Inc. (UMH)

$19.53

+0.04 (+0.21%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 19.53 | undervalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 129.59146.59163.61186.10209.97236.90267.28301.56340.24383.88
Revenue (%)
EBITDA 11.5182.3765.05115.3787.5798.80111.47125.77141.90160.10
EBITDA (%)
EBIT -20.1845.5623.3470.2535.4439.9945.1250.9057.4364.80
EBIT (%)
Depreciation 31.6936.8141.7145.1252.1358.8166.3674.8784.4795.30
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 7.4312.90118.51229.92322.74172.57194.70219.68247.85279.64
Total Cash (%)
Account Receivables 31.493846.4155.3659.6664.7973.1082.4893.06104.99
Account Receivables (%)
Inventories 23.7031.9725.4523.6645.9942.7748.2654.4461.4369.31
Inventories (%)
Accounts Payable 3.874.574.394.274.576.297.0989.0310.18
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 19.53
Beta 1.213
Diluted Shares Outstanding 41.40
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.612
Total Debt -
Total Equity 808.44
Total Capital 808.44
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 129.59146.59163.61186.10209.97236.90267.28301.56340.24383.88
EBITDA 11.5182.3765.05115.3787.5798.80111.47125.77141.90160.10
EBIT -20.1845.5623.3470.2535.4439.9945.1250.9057.4364.80
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -20.1845.5623.3470.2535.4439.9945.1250.9057.4364.80
Depreciation 31.6936.8141.7145.1252.1358.8166.3674.8784.4795.30
Accounts Receivable --6.50-8.42-8.95-4.30-5.13-8.31-9.38-10.58-11.94
Inventories --8.266.521.79-22.333.22-5.49-6.19-6.98-7.88
Accounts Payable -0.70-0.18-0.120.301.710.810.911.031.16
Capital Expenditure ----------
UFCF ----------
WACC
PV UFCF ------
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.61
Free cash flow (t + 1) -
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -275.81
Equity Value -
Shares Outstanding 41.40
Equity Value Per Share -