Discounted Cash Flow (DCF) Analysis Unlevered
United Corporations Limited (UNC.TO)
$102
-1.27 (-1.23%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 124.41 | 155.42 | -94.44 | 488.21 | -21.63 | 24.72 | -28.26 | 32.30 | -36.92 | 42.20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | 123.09 | 154.03 | -96.08 | 486.35 | -23.83 | 25.20 | -28.80 | 32.92 | -37.63 | 43.01 |
| EBITDA (%) | ||||||||||
| EBIT | - | - | - | - | - | 25.20 | -28.80 | 32.92 | -37.63 | 43.01 |
| EBIT (%) | ||||||||||
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| 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 | 19.16 | 43.81 | 43.90 | 99.27 | 68.40 | -14.78 | 16.89 | -19.30 | 22.06 | -25.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 2.15 | 13.23 | 10.55 | 3.68 | 13.45 | -3.08 | 3.52 | -4.03 | 4.60 | -5.26 |
| Account Receivables (%) | ||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | ||||||||||
| Accounts Payable | 3.75 | 13.31 | 7.51 | 9.39 | 11.57 | -2.37 | 2.71 | -3.10 | 3.54 | -4.05 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 102 |
|---|---|
| Beta | 0.639 |
| Diluted Shares Outstanding | 12.09 |
| Cost of Debt | |
| Tax Rate | 3.08 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.549 |
| Total Debt | - |
| Total Equity | 1,233.39 |
| Total Capital | - |
| Debt Weighting | - |
| Equity Weighting | - |
| Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 124.41 | 155.42 | -94.44 | 488.21 | -21.63 | 24.72 | -28.26 | 32.30 | -36.92 | 42.20 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 123.09 | 154.03 | -96.08 | 486.35 | -23.83 | 25.20 | -28.80 | 32.92 | -37.63 | 43.01 |
| EBIT | - | - | - | - | - | 25.20 | -28.80 | 32.92 | -37.63 | 43.01 |
| Tax Rate | 16.45% | 16.10% | 9.71% | 13.10% | 3.08% | 11.69% | 11.69% | 11.69% | 11.69% | 11.69% |
| EBIAT | - | - | - | - | - | 22.25 | -25.43 | 29.07 | -33.23 | 37.98 |
| Depreciation | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | -11.08 | 2.68 | 6.88 | -9.77 | 16.53 | -6.61 | 7.55 | -8.63 | 9.87 |
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | 9.55 | -5.79 | 1.87 | 2.18 | -13.94 | 5.08 | -5.81 | 6.64 | -7.59 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| UFCF | - | - | - | - | - | 24.84 | -26.96 | 30.82 | -35.22 | 40.26 |
| WACC | ||||||||||
| PV UFCF | - | - | - | - | - | |||||
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | 41.07 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -68.40 |
| Equity Value | - |
| Shares Outstanding | 12.09 |
| Equity Value Per Share | - |