Discounted Cash Flow (DCF) Analysis Levered

Lonestar Resources US Inc (LONE)

$ 7.5
0 (0.00%)

Free Cash Flow

Year
A/P
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 81.6957.9794.07201.17195.1510.9011.9813.1714.4815.9217.51
Revenue (%)
Operating Cash Flow 50.8524.2743.4588.0780.3212.997.087.788.559.4010.34
Operating Cash Flow (%)
Capital Expenditure -94.52-43.96-208.74-219.47-157.76-0-12.05-13.25-14.57-16.01-17.60
Capital Expenditure (%)
Free Cash Flow -43.67-19.69-165.30-131.40-77.4412.98-4.97-5.47-6.01-6.61-7.27

Weighted Average Cost Of Capital

Share price $ 7.5
Beta 3.282
Diluted Shares Outstanding 25.36
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 28.581
Total Debt 255.33
Total Equity 190.21
Total Capital 445.54
Debt Weighting 57.31
Equity Weighting 42.69
Wacc

Build Up Free Cash Flow

Year
A/P
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 81.6957.9794.07201.17195.1510.9011.9813.1714.4815.9217.51
Operating Cash Flow 50.8524.2743.4588.0780.3212.997.087.788.559.4010.34
Capital Expenditure -94.52-43.96-208.74-219.47-157.76-0-12.05-13.25-14.57-16.01-17.60
Free Cash Flow -43.67-19.69-165.30-131.40-77.4412.98-4.97-5.47-6.01-6.61-7.27
WACC
PV LFCF -5.72-5.47-5.22-4.99-4.77
SUM PV LFCF -19.77

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 15.07
Free cash flow (t + 1) -7.56
Terminal Value -68.26
Present Value of Terminal Value -33.83

Intrinsic Value

Enterprise Value -53.60
Net Debt 237.85
Equity Value -291.46
Shares Outstanding 25.36
Equity Value Per Share -11.49