Discounted Cash Flow (DCF) Analysis Unlevered

Invesco Senior Income Trust (VVR)

$4.15

-0.01 (-0.24%)
All numbers are in Millions, Currency in USD
Stock DCF: -3.84 | 4.15 | overvalue

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 28.9818.2436.3951.793.423.513.613.723.823.93
Revenue (%)
EBITDA -29.54-43.43-4.015.73-71.01-16.99-17.47-17.97-18.48-19
EBITDA (%)
EBIT ------16.99-17.47-17.97-18.48-19
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 16.7419.4522.8610.694.912.752.832.912.993.08
Total Cash (%)
Account Receivables 41.8160.7258.73122.1337.4213.8414.2314.6315.0515.47
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 74.7990.17163.74188.6151.6121.6222.2322.8623.5124.17
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 4.15
Beta 0.485
Diluted Shares Outstanding 153.03
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 6.18%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.574
Total Debt 201
Total Equity 635.08
Total Capital 836.08
Debt Weighting 24.04
Equity Weighting 75.96
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 28.9818.2436.3951.793.423.513.613.723.823.93
EBITDA -29.54-43.43-4.015.73-71.01-16.99-17.47-17.97-18.48-19
EBIT ------16.99-17.47-17.97-18.48-19
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT ------16.99-17.47-17.97-18.48-19
Depreciation ----------
Accounts Receivable --18.911.99-63.4084.7123.58-0.39-0.40-0.41-0.43
Inventories ----------
Accounts Payable -15.3973.5724.86-137-29.990.610.630.650.67
Capital Expenditure ----------
UFCF ------23.40-17.25-17.74-18.24-18.76
WACC
PV UFCF -21.97-15.22-14.70-14.19-13.71
SUM PV UFCF -79.78

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.48
Free cash flow (t + 1) -19.14
Terminal Value -427.13
Present Value of Terminal Value -312.05

Intrinsic Value

Enterprise Value -391.83
Net Debt 196.09
Equity Value -587.92
Shares Outstanding 153.03
Equity Value Per Share -3.84