Discounted Cash Flow (DCF) Analysis Levered
Alimera Sciences, Inc. (ALIM)
$3.13
+0.02 (+0.64%)
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 | 46.97 | 53.94 | 50.82 | 59.03 | 54.13 | 56.42 | 58.80 | 61.29 | 63.88 | 66.58 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -11.55 | -4.15 | -2.19 | -3.22 | -9.97 | -6.83 | -7.11 | -7.42 | -7.73 | -8.06 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.17 | -0.17 | -0.62 | -0.62 | -0.26 | -0.39 | -0.40 | -0.42 | -0.44 | -0.46 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -11.73 | -4.33 | -2.81 | -3.84 | -10.23 | -7.21 | -7.52 | -7.84 | -8.17 | -8.51 |
Weighted Average Cost Of Capital
| Share price | $ 3.13 |
|---|---|
| Beta | 1.403 |
| Diluted Shares Outstanding | 7 |
| Cost of Debt | |
| Tax Rate | -0.15 |
| After-tax Cost of Debt | 13.27% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.101 |
| Total Debt | 44.33 |
| Total Equity | 21.90 |
| Total Capital | 66.23 |
| Debt Weighting | 66.93 |
| Equity Weighting | 33.07 |
| 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 | 46.97 | 53.94 | 50.82 | 59.03 | 54.13 | 56.42 | 58.80 | 61.29 | 63.88 | 66.58 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -11.55 | -4.15 | -2.19 | -3.22 | -9.97 | -6.83 | -7.11 | -7.42 | -7.73 | -8.06 |
| Capital Expenditure | -0.17 | -0.17 | -0.62 | -0.62 | -0.26 | -0.39 | -0.40 | -0.42 | -0.44 | -0.46 |
| Free Cash Flow | -11.73 | -4.33 | -2.81 | -3.84 | -10.23 | -7.21 | -7.52 | -7.84 | -8.17 | -8.51 |
| WACC | ||||||||||
| PV LFCF | -6.41 | -5.94 | -5.50 | -5.09 | -4.71 | |||||
| SUM PV LFCF | -27.65 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.55 |
| Free cash flow (t + 1) | -8.68 |
| Terminal Value | -82.31 |
| Present Value of Terminal Value | -45.58 |
Intrinsic Value
| Enterprise Value | -73.22 |
|---|---|
| Net Debt | 39.05 |
| Equity Value | -112.28 |
| Shares Outstanding | 7 |
| Equity Value Per Share | -16.05 |