Discounted Cash Flow (DCF) Analysis Levered
Adicet Bio, Inc. (ACET)
$1.37
-0.05 (-3.52%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 8.18 | 0.99 | 17.90 | 9.73 | 24.99 | 132.61 | 703.72 | 3,734.36 | 19,816.78 | 105,159.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -18.18 | -27.88 | -41.55 | -51.05 | -44.77 | -1,050.38 | -5,573.95 | -29,578.74 | -156,962.65 | -832,938.68 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.88 | -1.07 | -0.99 | -13.05 | -16.78 | -86.20 | -457.43 | -2,427.41 | -12,881.31 | -68,356.04 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -19.06 | -28.95 | -42.54 | -64.10 | -61.55 | -1,136.58 | -6,031.38 | -32,006.15 | -169,843.96 | -901,294.72 |
Weighted Average Cost Of Capital
| Share price | $ 1.37 |
|---|---|
| Beta | 1.580 |
| Diluted Shares Outstanding | 41.08 |
| Cost of Debt | |
| Tax Rate | 3.96 |
| After-tax Cost of Debt | 0.36% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.032 |
| Total Debt | 21.02 |
| Total Equity | 56.28 |
| Total Capital | 77.30 |
| Debt Weighting | 27.20 |
| Equity Weighting | 72.80 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 8.18 | 0.99 | 17.90 | 9.73 | 24.99 | 132.61 | 703.72 | 3,734.36 | 19,816.78 | 105,159.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -18.18 | -27.88 | -41.55 | -51.05 | -44.77 | -1,050.38 | -5,573.95 | -29,578.74 | -156,962.65 | -832,938.68 |
| Capital Expenditure | -0.88 | -1.07 | -0.99 | -13.05 | -16.78 | -86.20 | -457.43 | -2,427.41 | -12,881.31 | -68,356.04 |
| Free Cash Flow | -19.06 | -28.95 | -42.54 | -64.10 | -61.55 | -1,136.58 | -6,031.38 | -32,006.15 | -169,843.96 | -901,294.72 |
| WACC | ||||||||||
| PV LFCF | -1,044.07 | -5,089.56 | -24,810.09 | -120,941.90 | -589,556.15 | |||||
| SUM PV LFCF | -741,441.78 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.86 |
| Free cash flow (t + 1) | -919,320.61 |
| Terminal Value | -13,401,175.12 |
| Present Value of Terminal Value | -8,765,995.28 |
Intrinsic Value
| Enterprise Value | -9,507,437.06 |
|---|---|
| Net Debt | -236.63 |
| Equity Value | -9,507,200.43 |
| Shares Outstanding | 41.08 |
| Equity Value Per Share | -231,429.75 |