Discounted Cash Flow (DCF) Analysis Levered
Agios Pharmaceuticals, Inc. (AGIO)
$26.05
+0.34 (+1.32%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 94.39 | 117.91 | 203.20 | 302 | 448.86 | 667.12 | 991.51 | 1,473.64 | 2,190.22 | 3,255.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -304.42 | -370.62 | -290.76 | -407.32 | -309.48 | -1,312.56 | -1,950.82 | -2,899.42 | -4,309.30 | -6,404.76 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -6.99 | -12.17 | -14.91 | -5.74 | -4.88 | -37.42 | -55.62 | -82.67 | -122.87 | -182.61 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -311.41 | -382.79 | -305.67 | -413.06 | -314.36 | -1,349.99 | -2,006.44 | -2,982.09 | -4,432.17 | -6,587.37 |
Weighted Average Cost Of Capital
| Share price | $ 26.05 |
|---|---|
| Beta | 0.954 |
| Diluted Shares Outstanding | 54.79 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 14.93% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.192 |
| Total Debt | 85.66 |
| Total Equity | 1,427.26 |
| Total Capital | 1,512.92 |
| Debt Weighting | 5.66 |
| Equity Weighting | 94.34 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 94.39 | 117.91 | 203.20 | 302 | 448.86 | 667.12 | 991.51 | 1,473.64 | 2,190.22 | 3,255.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -304.42 | -370.62 | -290.76 | -407.32 | -309.48 | -1,312.56 | -1,950.82 | -2,899.42 | -4,309.30 | -6,404.76 |
| Capital Expenditure | -6.99 | -12.17 | -14.91 | -5.74 | -4.88 | -37.42 | -55.62 | -82.67 | -122.87 | -182.61 |
| Free Cash Flow | -311.41 | -382.79 | -305.67 | -413.06 | -314.36 | -1,349.99 | -2,006.44 | -2,982.09 | -4,432.17 | -6,587.37 |
| WACC | ||||||||||
| PV LFCF | -448.46 | -314.36 | -1,243.43 | -1,702.18 | -2,330.19 | -3,189.90 | -4,366.80 | |||
| SUM PV LFCF | -12,832.50 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.57 |
| Free cash flow (t + 1) | -6,719.12 |
| Terminal Value | -102,269.69 |
| Present Value of Terminal Value | -67,795.01 |
Intrinsic Value
| Enterprise Value | -80,627.51 |
|---|---|
| Net Debt | -53.60 |
| Equity Value | -80,573.91 |
| Shares Outstanding | 54.79 |
| Equity Value Per Share | -1,470.61 |