Professional Documents
Culture Documents
Midland Energy
Midland Energy
Midland Energy
MIDLAND ENERGY
company
CONSOLIDATED
E& P
REFINING
PETROCHEMICALS
85
45
67
1.41
1.33
0.87
EQUITY MV
0.933774834
1.047244094
0.620542083
NET DEBT
EXPLORATION
JACKSON ENERGY
WIDE PLAIN
CORSICANA ENERGY
WORTHINGTON PETRO
57931
46089
42263
27591
6480
39375
6442
13098
60356
15567
9204
2460
18363
32662
48796
6200
3017
1925
-296
5931
6743
24525
134114
79508
AVERAGE
REFINING
BEXAR ENERGY
KIRK
WHITE POINT
PETRACH FUEL
ARKANA PETRO
BEAUMONT ENERGY
DAMERON FUEL
AVERAGE
MIDLAND ENERGY
information
LTM REVENUE NET INCOME
248518
18701
22357
202971
23189
D/E
12556
4047
2097
EQUITY BETA ASSET BETA
11.2
85.4
15.2
47.5
0.89
1.21
1.11
1.39
39.825
10.3
19.4
20.9
-12
32.3
20.6
50.3
18512
17827
14505
12820
0.93
1.7
0.94
1.78
0.24
1.25
1.04
1.42
20.25714286
59.3
0.83
0.80
1.02
1.08
LTM REVENUE
1.60
0.84
1.58
0.26
1.05
0.93
1.09
160708
67751
31682
18874
49117
59989
58750
1.05
1.25
0.92
251003
LTM EARNINGS
4981
8495
4467
3506
9560
1713
1402
112
3353
1467
4646
18888
TARGET D/E
TARGET D/V
MIDLAND ENERGY
TARGET CONSOLIDATED
EXPLORATION
REFINING
PETROCHEMICALS
73
42.2
85.2
44.9
66.7
46
31
40
CURRENT CONSOLIDATED
37.2
ASSUMPTION
DEBT BETA
30 YR T BOND
EQUITY RISK PREMIUM
TAX RATE
0
4.98
5
40
ASSET BETA
EQUITY BETA
COST OF EQUITY
COST OF DEBT
0.92
1.32
11.59
6.6
0.93
1.05
0.62
1.41
1.33
0.87
12.01
11.64
9.32
6.58
6.78
6.33
0.92
1.25
11.24
6.6
WACC
8.3729
8.2999
9.2957
7.1116
8.53
WACC
ASSET TYPE
CALCULATOR
TARGET
DEBT RATIO
E&P
E&P
E&P
E&P
E&P
E&P
TARGET
EQUITY RATIO
55
50
46
40
35
30
45
50
54
60
65
70
E&P
E&P
E&P
E&P
E&P
E&P
RIEK FREE
UNLEVERED
ASSET BETA
4.98
4.98
4.98
4.98
4.98
4.98
0.93
0.93
0.93
0.93
0.93
0.93
JACKSON
WIDE PLAIN
CORSICANA
WORTHINGTON
0.89
1.21
1.11
1.39
CORP
TAX RATE
SPREAD
T BOND
40
40
40
40
40
40
TARGET
EQUITY
COST OF
DEBT
1.62
1.62
1.62
1.62
1.62
1.62
ADJ TARGET
EQUITY RATIO
45
50
54
60
65
70
0.577
0.625
0.662
0.714
0.756
0.795
MV EQUITY MV DEBT
40055
31867
29222
19078
COST OF
EQUITY
6.6
6.6
6.6
6.6
6.6
6.6
LEVERED
EQUITY BETA
MARKET
RISK PREMIUM
1.62
1.49
1.41
1.31
1.23
1.17
MV EQUITY
RATIO
4481
27225
4454
9056
13.08
12.43
12.03
11.53
11.13
10.83
0.899
0.539
0.868
0.678
5
5
5
5
5
5
ADJ
EQUITY RATIO
0.937
0.661
0.916
0.778
WACC
8.064
8.195
8.3178
8.502
8.6205
8.769
COST OF
EQUITY
13.08
12.43
12.03
11.53
11.13
10.83
UNLEVERED
ASSET BETA
0.83
0.8
1.02
1.08
0.9325
0.83393
0.79981
1.01676
1.08142