Discounted Cash Flow (DCF) Analysis Levered
ADDvantage Technologies Group, Inc. (AEY)
$0.3819
+0.03 (+7.28%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 55.12 | 50.18 | 62.16 | 97.03 | 97.03 | 119.99 | 148.40 | 183.52 | 226.96 | 280.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -4.81 | -3.82 | -7.51 | 2.18 | 2.18 | -5.74 | -7.10 | -8.78 | -10.86 | -13.43 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.60 | -0.61 | -0.30 | -0.24 | -0.24 | -0.79 | -0.97 | -1.20 | -1.49 | -1.84 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -5.41 | -4.43 | -7.81 | 1.94 | 1.94 | -6.53 | -8.07 | -9.99 | -12.35 | -15.27 |
Weighted Average Cost Of Capital
| Share price | $ 0.3,819 |
|---|---|
| Beta | 0.530 |
| Diluted Shares Outstanding | 13.48 |
| Cost of Debt | |
| Tax Rate | 1.67 |
| After-tax Cost of Debt | 4.64% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.126 |
| Total Debt | 3.73 |
| Total Equity | 5.15 |
| Total Capital | 8.88 |
| Debt Weighting | 42.00 |
| Equity Weighting | 58.00 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 55.12 | 50.18 | 62.16 | 97.03 | 97.03 | 119.99 | 148.40 | 183.52 | 226.96 | 280.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -4.81 | -3.82 | -7.51 | 2.18 | 2.18 | -5.74 | -7.10 | -8.78 | -10.86 | -13.43 |
| Capital Expenditure | -0.60 | -0.61 | -0.30 | -0.24 | -0.24 | -0.79 | -0.97 | -1.20 | -1.49 | -1.84 |
| Free Cash Flow | -5.41 | -4.43 | -7.81 | 1.94 | 1.94 | -6.53 | -8.07 | -9.99 | -12.35 | -15.27 |
| WACC | ||||||||||
| PV LFCF | -6.15 | -7.18 | -8.36 | -9.75 | -11.37 | |||||
| SUM PV LFCF | -42.81 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.08 |
| Free cash flow (t + 1) | -15.58 |
| Terminal Value | -381.78 |
| Present Value of Terminal Value | -284.22 |
Intrinsic Value
| Enterprise Value | -327.03 |
|---|---|
| Net Debt | 1.18 |
| Equity Value | -328.21 |
| Shares Outstanding | 13.48 |
| Equity Value Per Share | -24.34 |