Discounted Cash Flow (DCF) Analysis Levered
ADDvantage Technologies Group, Inc. (AEY)
$3.09
-0.12 (-3.74%)
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 | 47.41 | 55.12 | 50.18 | 62.16 | 97.03 | 118.19 | 143.98 | 175.38 | 213.64 | 260.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 3.83 | -4.81 | -3.82 | -7.51 | 2.18 | -4.28 | -5.21 | -6.35 | -7.74 | -9.42 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.13 | -0.60 | -0.61 | -0.30 | -0.24 | -0.78 | -0.95 | -1.16 | -1.41 | -1.72 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 3.70 | -5.41 | -4.43 | -7.81 | 1.94 | -5.06 | -6.16 | -7.51 | -9.15 | -11.14 |
Weighted Average Cost Of Capital
| Share price | $ 3.09 |
|---|---|
| Beta | 0.567 |
| Diluted Shares Outstanding | 13.48 |
| Cost of Debt | |
| Tax Rate | 1.67 |
| After-tax Cost of Debt | 4.18% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.931 |
| Total Debt | 7.20 |
| Total Equity | 41.67 |
| Total Capital | 48.87 |
| Debt Weighting | 14.74 |
| Equity Weighting | 85.26 |
| 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 | 47.41 | 55.12 | 50.18 | 62.16 | 97.03 | 118.19 | 143.98 | 175.38 | 213.64 | 260.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 3.83 | -4.81 | -3.82 | -7.51 | 2.18 | -4.28 | -5.21 | -6.35 | -7.74 | -9.42 |
| Capital Expenditure | -0.13 | -0.60 | -0.61 | -0.30 | -0.24 | -0.78 | -0.95 | -1.16 | -1.41 | -1.72 |
| Free Cash Flow | 3.70 | -5.41 | -4.43 | -7.81 | 1.94 | -5.06 | -6.16 | -7.51 | -9.15 | -11.14 |
| WACC | ||||||||||
| PV LFCF | -4.75 | -5.43 | -6.21 | -7.10 | -8.12 | |||||
| SUM PV LFCF | -31.62 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.53 |
| Free cash flow (t + 1) | -11.37 |
| Terminal Value | -250.90 |
| Present Value of Terminal Value | -182.87 |
Intrinsic Value
| Enterprise Value | -214.49 |
|---|---|
| Net Debt | 5.37 |
| Equity Value | -219.85 |
| Shares Outstanding | 13.48 |
| Equity Value Per Share | -16.30 |