Discounted Cash Flow (DCF) Analysis Unlevered

Vidler Water Resources, Inc. (VWTR)

$15.75

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 15.75 | undervalue

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 26.3913.6428.619.0328.2342.7464.7197.99148.37224.66
Revenue (%)
EBITDA 3.85-3.2011.580.7214.847.8711.9218.0527.3341.38
EBITDA (%)
EBIT 3.55-3.2811.530.6714.807.6511.5917.5526.5740.23
EBIT (%)
Depreciation 0.300.080.060.050.040.220.330.500.761.16
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 37.1312.5518.179.3928.1842.7464.7298148.38224.68
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 5.555.213.363.363.3610.2615.5423.5335.6353.95
Inventories (%)
Accounts Payable -0.140.290.090.290.440.6611.512.29
Accounts Payable (%)
Capital Expenditure -0-0.02-0.01-0.07-0.01-0.08-0.12-0.19-0.28-0.43
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 15.75
Beta 0.965
Diluted Shares Outstanding 18.28
Cost of Debt
Tax Rate -122.36
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.029
Total Debt 0.24
Total Equity 287.94
Total Capital 288.18
Debt Weighting 0.08
Equity Weighting 99.92
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 26.3913.6428.619.0328.2342.7464.7197.99148.37224.66
EBITDA 3.85-3.2011.580.7214.847.8711.9218.0527.3341.38
EBIT 3.55-3.2811.530.6714.807.6511.5917.5526.5740.23
Tax Rate 95.51%-0.30%0.00%-1,397.16%-122.36%-284.86%-284.86%-284.86%-284.86%-284.86%
EBIAT 0.16-3.2911.531032.9129.4544.6067.53102.25154.82
Depreciation 0.300.080.060.050.040.220.330.500.761.16
Accounts Receivable ----------
Inventories -0.341.85-00-6.90-5.28-7.99-12.10-18.32
Accounts Payable --0.15-0.200.200.150.220.340.510.78
Capital Expenditure -0.01-0.02-0.01-0.07-0.01-0.08-0.12-0.19-0.28-0.43
UFCF 0.46-2.8813.579.7833.1422.8439.7560.1991.14138.01
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 140.77
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -27.94
Equity Value -
Shares Outstanding 18.28
Equity Value Per Share -