Discounted Cash Flow (DCF) Analysis Levered
Amyris, Inc. (AMRS)
$2.27
+0.12 (+5.58%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 143.44 | 63.60 | 152.56 | 173.14 | 341.82 | 508.55 | 756.60 | 1,125.66 | 1,674.73 | 2,491.62 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -100.62 | -109.37 | -156.93 | -175.75 | -181.33 | -508.06 | -755.88 | -1,124.58 | -1,673.12 | -2,489.23 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -4.41 | -12.47 | -13.08 | -12.78 | -45.64 | -52.88 | -78.67 | -117.05 | -174.14 | -259.09 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -105.03 | -121.84 | -170.01 | -188.53 | -226.97 | -560.94 | -834.55 | -1,241.63 | -1,847.27 | -2,748.32 |
Weighted Average Cost Of Capital
| Share price | $ 2.27 |
|---|---|
| Beta | 1.664 |
| Diluted Shares Outstanding | 203.60 |
| Cost of Debt | |
| Tax Rate | 0.19 |
| After-tax Cost of Debt | -7,569.63% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.980 |
| Total Debt | 0.34 |
| Total Equity | 462.17 |
| Total Capital | 462.51 |
| Debt Weighting | 0.07 |
| Equity Weighting | 99.93 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 143.44 | 63.60 | 152.56 | 173.14 | 341.82 | 508.55 | 756.60 | 1,125.66 | 1,674.73 | 2,491.62 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -100.62 | -109.37 | -156.93 | -175.75 | -181.33 | -508.06 | -755.88 | -1,124.58 | -1,673.12 | -2,489.23 |
| Capital Expenditure | -4.41 | -12.47 | -13.08 | -12.78 | -45.64 | -52.88 | -78.67 | -117.05 | -174.14 | -259.09 |
| Free Cash Flow | -105.03 | -121.84 | -170.01 | -188.53 | -226.97 | -560.94 | -834.55 | -1,241.63 | -1,847.27 | -2,748.32 |
| WACC | ||||||||||
| PV LFCF | -531.95 | -750.52 | -1,058.89 | -1,493.97 | -2,107.82 | |||||
| SUM PV LFCF | -5,943.15 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.45 |
| Free cash flow (t + 1) | -2,803.28 |
| Terminal Value | -81,254.61 |
| Present Value of Terminal Value | -62,318.23 |
Intrinsic Value
| Enterprise Value | -68,261.38 |
|---|---|
| Net Debt | -0.15 |
| Equity Value | -68,261.23 |
| Shares Outstanding | 203.60 |
| Equity Value Per Share | -335.27 |