Discounted Cash Flow (DCF) Analysis Unlevered

Invesco Bond Fund (VBF)

$15.59

-0.17 (-1.08%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 15.59 | undervalue

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 4.1334.7514.37-7.74-21.71-60.15-166.71-461.99-1,280.33-3,548.19
Revenue (%)
EBITDA -5.5525.696.04-15.45-30.25-38.58-106.93-296.33-821.23-2,275.88
EBITDA (%)
EBIT ------38.58-106.93-296.33-821.23-2,275.88
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 00.020.640.120.08-0.31-0.86-2.37-6.58-18.23
Total Cash (%)
Account Receivables 8.482.824.514.476.16-19.07-52.84-146.42-405.79-1,124.56
Account Receivables (%)
Inventories 9.465.93-6.118.22-15.53-43.03-119.26-330.51-915.94
Inventories (%)
Accounts Payable 4.501.423.602.105-10.57-29.29-81.17-224.94-623.37
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 15.59
Beta 0.432
Diluted Shares Outstanding 11.42
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.198
Total Debt -
Total Equity 177.97
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 4.1334.7514.37-7.74-21.71-60.15-166.71-461.99-1,280.33-3,548.19
EBITDA -5.5525.696.04-15.45-30.25-38.58-106.93-296.33-821.23-2,275.88
EBIT ------38.58-106.93-296.33-821.23-2,275.88
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------38.58-106.93-296.33-821.23-2,275.88
Depreciation ----------
Accounts Receivable -5.66-1.690.04-1.7025.2333.7793.59259.36718.78
Inventories -3.535.93--2.1123.7427.5176.23211.25585.43
Accounts Payable --3.082.18-1.512.91-15.57-18.72-51.88-143.77-398.43
Capital Expenditure ----------
UFCF ------5.18-64.37-178.39-494.39-1,370.11
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -1,397.51
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -0.08
Equity Value -
Shares Outstanding 11.42
Equity Value Per Share -